Keystone builder cuts top jobs

The company hoping to build the Keystone XL pipeline is cutting about a fifth of its senior leadership jobs.

TransCanada Corp. blamed the need to restructure on “the current environment,” including crude oil prices that have plunged over the last year, the Globe and Mail reports.

{mosads}“As we signalled in June, TransCanada is introducing changes to our structure to ensure we remain competitive and deliver shareholder value as we continue to grow and build new energy infrastructure in a safe and responsible manner,” TransCanada spokesman James Millar told the Globe and Mail.

“Falling oil prices and the current environment are having a profound impact on our customers and we must do all we can to drive down costs and pursue our projects more efficiently and strategically.”

Workers were told of the job cuts Monday, and they’ll be implemented in the coming months, the company said.

TransCanada’s first round of recent layoffs came in June, with 185 employees cut. The company said it was not related to any particular project.

But the application to build the Canada-to-Texas pipeline has been lingering for seven years as the Obama administration considers whether to approve it.

Democratic presidential front-runner Hillary Clinton announced Tuesday that she opposes building the project.