Talisman, which operates from Calgary in Alberta province, said it will lay off 10-15% of its employees and contractors, which accounts for around 150 to 200 jobs.
Talisman spokesperson Brent Anderson was quoted by the Financial Post as saying: "It’s a tough week, it’s a tough time for the industry, and the reality is that no oil and gas company is immune to low commodity prices."
The firm has been acquired by Spain’s largest energy firm Repsol in December last year for $8.3bn.
Lower investment resulting in lower activity levels and less need for staff have prompted Talisman to announce the job cuts, Anderson added.
Nexen has also decided to remove 400 employees, 340 from its North American business and 60 from its UK operations.
China’s CNOOC had acquired Nexen in a $15.1bn takeover in February 2013.
Nexen CEO Fang Zhi said: "While regrettable, these organizational changes are necessary to align the company with our reduced capital spending program. We take these decisions seriously, and all impacted employees have been treated fairly and with respect."
Since June last year, oil prices have plunged by over 50%, resulting in massive layouts and cut in capital expenditures.
