amazing! it's really happening then!
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Hearing more-and-more that they'll be coming at the end of March. Apparently management didn't cut enough last time, and Al has asked them for more hogs to fatten-up and take to the slaughter.
These layoffs are not gonna stop anytime soon. The company is highly leveraged and some numbers has to make sense on why these are happening.
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Credit rating had been downgraded because the company is highly leveraged which is around $65 billion as of Sep 2017. What this means is the company might be bleeding cash to service its debt plus the prime rate is increasing and with lower credit rating it might be paying higher basis points on top of prime rate. One credit rating agency noted it is one notch above junk status.
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it already issued $1.5 billion of new shares late last year but not enough so they still plan to sell $3 billion worth of assets. And of course, expect more layoffs.
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to ease investors worry they have to announce of a good dividend growth plan even if the cash flow is negative. You can look up the numbers as of Q3 2017 it has a negative cash flow of -$749 million.
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with all these cost cutting measures and talk of efficiency, the revenue growth last year is only around 2%-3% compared to Transcanada 10% and profit margin of around 10% compared to Transcanada 16%. We are inefficient before and we are still inefficent now despite reorg and layoffs for the past 3yrs.
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the company’s capital structure is complex/ convoluted so I am just waiting for share price to go back up a bit so I can dispose all of my shares and buy some other utility companies that are much simpler and also dividend paying.
With these numbers, something got to give and in this case the workforce will be trimmed down further. Expect penny pinching especially on areas where your VP or Director considers as “non essentials/non critical”.
Where did you hear this date? Man they just did a round when is it gonna end?
Is this making america great again???
Men they have to reduce and reduce head count so they can attain cost savings so that there will be more for Directors and up. Directors are making $200k to $300k a year and VPs are making $1million to $3million a year compensation so where do you think they will get all these money to pay for these non revenue generating positions. I mean “management position”. Besides all these cost savings will really look good on them. Plus even if they get booted out they get juicy package. Win win for them and loose loose for ordinary Jane and John. Also, when you squeeze your ordinary manpower you will have more for stockholders and guess who has more stocks than anyone else in the company? Of course, the managers and above because they get free stocks every year as part of their perks aside from STIP and every other benefits.
Let's just make the second Tuesday of each month "Layoff Day". Eliminate the timing uncertainty.
Another one?
Will Enbridge have any employees remaining other than Directors and up?