Overview

• Imperial expects a roughly $330 million before-tax restructuring charge in the third quarter of 2025 and targets about $150 million in annual savings by 2028.
• The plan consolidates activities to operating sites and taps technology and global capability centres, with guidance unchanged and medium-term targets for Kearl and Cold Lake reaffirmed.
• Imperial said about 900 corporate positions will be eliminated, mostly in Calgary, while total reductions are commonly estimated at roughly 1,000 based on a 5,100-employee count at year-end 2024.
• Parent company ExxonMobil confirmed 2,000 job cuts worldwide and said Imperial’s layoffs account for about half of that total, with reductions focused in Europe and none planned in the U.S.
• Alberta and federal leaders voiced disappointment and discussed worker support as analysts linked the move to sector-wide efficiency drives and weaker crude prices.