Oil workers receiving bonuses as large as 30 per cent of salary.
While the rest of North America is buckling down in anticipation of a possible recession, oil workers in Calgary are celebrating. The energy sector is experiencing record annual profits and as a result, oil workers are getting huge bonuses — from seven per cent to 30 per cent of salary for top workers.
Many of Calgary’s exploration companies had profits of more than $1-billion in 2000. That is largely thanks to skyrocketing oil and natural gas prices.
According to Canadian Press, one insider said PanCanadian Petroleum is giving out “phenomenal” bonuses; many other smaller companies, particularly gas companies, are also rewarding employees in a big way.
Both the high profit results and the employee bonuses could help to boost Calgary’s economy significantly.
Many of Calgary’s exploration companies had profits of more than $1-billion in 2000. That is largely thanks to skyrocketing oil and natural gas prices.
According to Canadian Press, one insider said PanCanadian Petroleum is giving out “phenomenal” bonuses; many other smaller companies, particularly gas companies, are also rewarding employees in a big way.
Both the high profit results and the employee bonuses could help to boost Calgary’s economy significantly.
