Spokesman Brent Anderson says up to 200 employee and contractor jobs are being cut, mostly at the company's head office in Calgary.
He says Talisman has had to reduce its capital spending this year, meaning there's just not enough work to go around.
Talisman agreed late last year to be taken over by Spain's Repsol SA. The deal is expected to close in the coming months.
Also this week, Nexen Energy ULC, which was taken over by China's CNOOC Ltd. about two years ago, announced it's cutting 400 jobs.
The Nexen layoffs include 340 positions in North America and 60 in the United Kingdom.