The Financial Post reports in its Thursday, Oct. 2, edition that Imperial Oil plans to sell its head office complex in Calgary as part of a restructuring. The Post's Reid Southwick writes that a spokesman confirmed a tentative agreement to sell the southeast Calgary complex, which features five buildings with about 800,000 square feet of office space for 3,000 employees, though the company has already consolidated into fewer buildings in recent years.
Only about 1,100 workers remain at the campus. The oil and gas producer announced Monday it plans to cut 900 jobs, mostly in Calgary, and centralize its operations. The move is part of a global restructuring at its majority owner, Exxon Mobil, which is shrinking its office footprint and cutting 3 to 4 per cent of its work force to reduce costs and operate more efficiently. Imperial had originally expected its suburban Calgary office campus would be "our company home for many decades," according to 2012 memo. A new internal document suggests conditions at the company have changed significantly since then. The document, dated Sept. 29 said Imperial has had a "surplus of Calgary office space" for several years, and had been "evaluating options for the campus."
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