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A fresh wave of layoffs is hitting Alberta’s energysector, with two oil and gas companies announcing 900 job cuts on Tuesday, mostly in Calgary, and analysts saying they see more on the way.

Penn West Petroleum is reducing its workforce by 35 per cent for a loss of over 400 full-time employees and contractors.

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And ConocoPhillips Canada plans to lay off 400 employees, or 15 per cent of its workforce, plus 100 contractors.

Penn West (TSX:PWT) said most of the job cuts announced Tuesday are effective immediately, while ConocoPhillips — which informed employees of its decision a day before making it public — said its workforce reduction will happen by mid-October.

The job cuts come as the industry continues to grapple with oil prices below US$50 a barrel, compared with more than US$100 a barrel last summer, with no big recovery in sight.

“We don’t see a lot of correction in the short term,” ConocoPhillips spokesman Rob Evans said Tuesday.