Enbridge says 800 staff have taken voluntary buyouts offered to cut costs

Enbridge says 800 staff have taken voluntary buyouts offered to cut costs

CALGARY — Enbridge Inc. says 800 employees have voluntarily left the company, allowing it to avoid layoffs as it cuts costs to counter impacts from COVID-19 and lower global oil prices.

The Calgary-based pipeline company announced in May it would defer $1 billion in capital spending this year and reduce costs by $300 million through measures including salary cuts and voluntary staff reductions.

Spokesman Jesse Semko confirmed that 800 staff have taken up options including early retirement, severance, educational or personal leaves of absence or part-time work.

The reductions would amount to about seven per cent of the 11,300 employees Enbridge listed at the end of last year, with about 7,800 in Canada and 3,500 in the U.S.

The company is also reducing base pay across its non-union workforce, cutting director and CEO pay by 15 per cent and executive vice-presidents’ pay by 10 per cent.

Enbridge in May reported a $1.43-billion first-quarter net loss which included an impairment of $1.74 billion on its investment in Denver-based DCP Midstream, which cut its dividend by 50 per cent in March due to pandemic effects.

This report by The Canadian Press was first published June 17, 2020.

Companies in this story: (TSX:ENB)

The Canadian Press

VANCOUVER — Coastal GasLink says it is ready to launch its summer construction program in British Columbia, which will see the first section of pipe buried in the ground next month.

The company says in a statement that construction also begins this summer on a compressor and metering stations that will form anchor points along the 670-kilometre pipeline running from the Dawson Creek area to Kitimat.

Work on the main compressor station is slated to begin in July and the company says activity on the entire project will gradually ramp up in the following months.

It expects to reach a peak in September, with a workforce of more than 2,500.

Opposition by the hereditary chiefs of the Wet’suwet’en Nation to construction of the pipeline through their traditional territory set off demonstrations and blockades that shut down large parts of the national economy in February.

When complete, Coastal GasLink says its pipeline will deliver at least 2.1-billion cubic feet of natural gas everyday to a LNG Canada liquefied natural gas facility being built in Kitimat.

Contempt of court charges were dropped this month against 22 members of the Wet’suwet’en and their supporters who were arrested in northwestern B.C. during protests against the pipeline.

This report by The Canadian Press was first published June 17, 2020

The Canadian Press

Business

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Clearview Public Schools has honoured Cindy Zimmermann as the recipient of the 2020 Clearview Star Award

Zimmerman has also gone with Teachers Across Borders to share her talents for a semester in Vietnam

Library column: October is only a few days away!

Culture Days will be back next September, so keep watch for future announcements

Stettler Food Bank in solid shape thanks to community support

A hike in demand is expected in the coming months

UPDATED: Red Deer has nine active COVID-19 cases

Number of cases increased by 107 Friday

Man sentenced to 7 years for gas-and-dash death of Alberta gas station owner

Ki Yun Jo was killed after Mitchell Sydlowski sped off in a stolen cube van without paying for $198 of fuel

QUIZ: A celebration of apples

September is the start of the apple harvest

Six injured, man in custody following BB gun incident in Alberta, RCMP say

Airdrie’s downtown core was told to shelter-in-place, while others nearby were asked to stay inside

Nearly 20 per cent of COVID-19 infections among health-care workers by late July

WHO acknowledged the possibility that COVID-19 might be spread in the air under certain conditions

Wetaskiwin RCMP make arrests for Hit and Run to residence

Damage estimates are expected to be in excess of $20,000.

Young Canadians have curtailed vaping during pandemic, survey finds

The survey funded by Heart & Stroke also found the decrease in vaping frequency is most notable in British Columbia and Ontario

“My world exploded,” says Bentley-area farmer who’s swather was struck by a motorist

Dennis Duncan was a mile from home when his swather was struck by another travelling at high speeds

Local feral cat rescue looking for support

Bottle drive being held in Bashaw

UPDATE: Last kidnapping suspect arrested

Amber Knickle has been arrested and remains in police custody

Most Read