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Rapidly falling oil prices have caused companies to significantly reduce spending, delay projects and lay off thousands of contract employees.

“The challenge comes in looking at the workforce,” McCullough says. “In these challenging times, we need to be as efficient and competitive as possible, regardless of whether oil is $45, $55 or $75 a barrel.”

Construction giant has business to bank on

The Casman Group in 25 years has gone from small construction projects in Fort McMurray to houses, condominiums, office buildings and energy plants.

From modest beginnings, it is now company with 500 employees. Revenue soared 75% in the past three years.

Working nearly entirely in northern Alberta, Casman has thrived in conjunction with industry’s remarkable growth.

But what now, with oil prices suppressed and the economy inching along?

“What I see happening I actually think is healthy,” says Ben Dutton, an Englishman who has presided over Casman’s industrial and general contracting units and mechanical and electrical concern for nearly four years. “It gives us an opportunity to perhaps reset to a more rational spot.

“Our concept of what is normal has been swayed dramatically. I think we err if we base our understanding of normal on the last few years. What happened here hasn’t been normal.”

Mr. Dutton says the economic hiccup has slowed its growth to 3% or 4%. The company is currently building a 200-unit apartment complex for Wood Buffalo Housing. It is also constructing 8,000 square feet of office space for Lafarge, while also completing the expansion of a hockey rink and continuing work for Suncor and Canadian Natural Resources Limited in the oil sands.