This is Enbridge after all. Do you think they'll stick to the whole "no layoffs thanks to VWO" or will they turn around in a few months (or even weeks) and say that we need layoffs after all?
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Why do you think for any reason your job would be safe with ENB? You are only an employee number and if that means cutting FTE to save the company money, they will do it! Look at the past trends with them. They are savages. If I had to guess timing likely Q1 2021 and my magic ball tells me on a Wednesday!
And you are earning less than last year. That’s a big Enbridge thank you.
The resentment over here is real! I was declined after putting in stellar performances, while others less deserving are dancing out the door.
There is no way this stops at now. The economy is much worse than when this was planned, and this “lottery” did nothing to weed out the poor performers, or others that the organization wants out. The slow quiet reduction that was happening before the VWO will at least continue or speed up.
I will add that this VWO program will go down as a terrible exercise for E. I am hearing of so many good people who took the offer because they can have a job next week, this will be a very real brain drain. Also, there is a group that wanted to go and got declined after many years of good service. They are going to hate their remaining time.
I see the former Bank of Canada governor Polozi jumped over to Enbridge Inc board within 1 week of resigning his post as governor. Enbridge is paying him handsomely. Something fishy and I bet very unethical with this.
You’re right, oil is dead. Sell your shares.
The company's revenue upside is pretty much zero. For them to keep giving away dividends and maintaining profits, they either have to sell assets they own or cut employees. 'Efficiency' gains are useless if they don't lead to more revenue or real $ savings. I'm afraid we are all in a flat to declining company. Stay or Go is the only real decision you have control over.
They only said no involuntary for this purpose. “this propose” is the $300MM savings goal they promised during the Q1 earnings call. That was in April. The company has lost tons more money since then. IMO, the shareholders and analysts will want more at the Q2 earnings call.
Who said Enb or any other private sector company guarantees jobs for life? You might find that stability in the public sector.
Enb's allegiances are to its shareholders first. Employees are far down the list.
They really made no promises. It’s all worded carefully to give them wiggle room to do further cuts.
It depends on the market.
You are right not to trust them. They are not trustworthy. There's a lot of narcissism at that level in this company.
I don't mean to be a Debbie Downer, I just have trouble trusting this leadership with anything.