Nexen has laid off more than 100 people. 

The Calgary-based oil and gas company is the Canadian subsidiary of the China National Offshore Oil Corporation (CNOOC).

"Given the current economic reality, we have made the difficult decision to reduce our workforce," the company said in a statement. 

"These changes impact approximately 120 Canadian employees. We take these decisions seriously, and all impacted employees have been treated fairly and with respect."