Encana announces major workforce cuts

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PARACHUTE, Colo. (KKCO) It is a scary time for Encana employees who are uncertain about if they will keep their positions at the energy company.

Officials announced a 20% company-wide workforce cut.

The fate of 190 employees in the Parachute office is unclear, but to date there have not been any layoffs there yet.

Officials say some of the changes at Encana are due to depressed natural gas prices, which is a result of an increase in natural gas production.

The company will also be reducing its stock and closing its office in Plano, Texas.

Updates up to this point remain limited, "We'll have more information about our strategy on the western slope," Sandy Kent, Encana.



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