The Canadian Press

1992-02-04 | Imperial-Oil

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Faced with its first ever full-year operating loss, Imperial Oil announced a drive to be leaner and more productive. Spokesman Dennis Baxter said the intention was to give refineries like those in Sarnia, Ontario and Dartmouth, Nova Scotia a chance to prove their worth by upgrading economies and production. (Imperial's plan included trimming 17-hundred jobs, reducing production capacity, and keeping only those service stations and distribution centers that were profitable. A week earlier, Imperial announced a 36-million-dollar operating loss for 1991, its first full-year operating loss ever.)

Date: 1992-02-04
Placeline: Toronto, ON, Canada
Source: The Canadian Press
Length: 12 seconds

Transcript Prediction: << we've done is issued a challenge to our refinery employees, that they have to get their cost performance levels up to made the best of competition in North America >>

Clip ID: 19920204CPCN001