I see it mentioned more and more here and I've heard a few people talk about it as a possibility. I honestly would prefer that to furloughs or layoffs, if it's truly temporary.
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All of this because the company did not make enough profit as projected? only a little profit, not good enough. Squeeze!!!
From the perspectives of running the business, staying safe and growing the business – Enbridge needs to have cash on hand and a decent credit rating because there are going to be some distressed companies ripe for take over. Enbridge can't grow organically much longer – it needs acquisitions and the market conditions are going to be prime. It is very unfortunate that many people will lose their jobs but the current strategy is entirely understandable. The approach to reduce pay, require summer vacation and allow voluntary departure (with severance) is far more humane than what is happening at other similar companies.
AM had choices, cut the dividend or cut the employees pay.
Guess what, he chose to sacrifice the employees pay to protect the stock price and dividend.
Who benefits more? The one that gets paid quite well in ENB stock....
AM has to meet a certain profit level. He looks at the earnings per share—every single quarter. If targets are not met then the shareholders get nervous, sell their shares and drop the share price.
AM will do whatever he can to meet or exceed these stock price expectations.
The shareholders are most important thing to AM.
Not us employees and he just demonstrated that.
Tune in next time to and see what AM cuts next.
I think derps from the layoff site start some of the threads to stoke the fires. Obviously anyone who actually works for the company would not ask this question. GFY.
You are a troll mining for information. Go back to your video game.
Palm to forehead!
To my knowledge, I don't think any employees at the gas company will get that subsidy. Plus the average hourly rate is so much higher than the target wage / employee the subsidy is supposed to assist I don't know why it would.
pay cuts??? I thought the government was offering a top up of $4/hr for essential workers, like the front line workers responding to emergencies every single day.
Didn’t you read the email yesterday ??? 🙄 there are pay cuts starting in June.