TransCanada cuts 185 jobs as it restructures

Keystone XL proponentTransCanada Corp. has laid off 185people in its major projects department, most of them in Calgary.

The jobs that were cut on Tuesdayincluded about 100 full-timeemployees while the rest were contract workers.

As a pipeline operator,TransCanadahas remained profitable through the oil downturn. In the first quarter, it earned$387 compared to $412 millionfor the same period in 2014. However, the industry it serves with its pipelines had a collective loss of more than $600 million over the same period.

In an e-mail, TransCanada's spokesman, Mark Cooper said the companycut the positions as part of arestructuring to controlcosts and remain competitive.

Cooper said TransCanadaneeds to providelow-cost services as its customers have been deeply affected by thecurrent low-price environment that has left companies in theoilpatch struggling.

TransCanada is working to move forward on a number of projects,including the Keystone XL Pipeline and the Energy East pipeline.

Both projects have faced delays and regulatory hurdles.The company has about 6,000 employees across North America.