A Canadian subsidiary of China National Offshore Oil Corp. said it was reducing its headcount as the industry works through a weakened oil economy. Subsidiary Nexen Energy said payrolls would be reduced by 120 as pressure mounts on oil and gas companies. “Given the current economic reality, we have made the difficult decision to reduce our workforce,” Brittney Price, a company spokeswoman, was quoted by Bloomberg News as saying. “We take these decisions seriously, and all impacted employees have been treated fairly and with respect.” Signs of a slowdown in the industry were strong enough in March 2015 to prompt Nexen to eliminate more than 300 employees , with the vast majority of the […]