Around 1,000 jobs are expected to go as the company completes its takeover of a major US-based firm
Energy giant Enbridge has confirmed that mass job cuts are on the cards following its takeover of Houston-based Spectra Energy earlier this year.
“After a careful evaluation, Enbridge has taken the difficult but necessary step to address the overlap in the combined company's organizational structure,” said spokesman Todd Nogier.
“Throughout this process, Enbridge is committed to treating people fairly and with respect,” he added.
Announced last September, the C$37-billion takeover is expected to drive C$540 million in annual cost savings from “synergies” – Enbridge CEO Al Monaco said 60 per cent of those savings would likely happen in 2017 while a further 30 per cent follow in 2018.
The Calgary-based company completed the merger in late February and says it expects around 1,000 jobs to go as a result – equivalent to approximately six per cent of the combined workforce.
The layoffs are in addition to 530 positions Enbridge eliminated last year following an organizational review – 370 of which were in Canada.
Nogier did not clarify where the latest cuts would be happening but said both Enbridge and Spectra Energy would be affected.
“After a careful evaluation, Enbridge has taken the difficult but necessary step to address the overlap in the combined company's organizational structure,” said spokesman Todd Nogier.
“Throughout this process, Enbridge is committed to treating people fairly and with respect,” he added.
Announced last September, the C$37-billion takeover is expected to drive C$540 million in annual cost savings from “synergies” – Enbridge CEO Al Monaco said 60 per cent of those savings would likely happen in 2017 while a further 30 per cent follow in 2018.
The Calgary-based company completed the merger in late February and says it expects around 1,000 jobs to go as a result – equivalent to approximately six per cent of the combined workforce.
The layoffs are in addition to 530 positions Enbridge eliminated last year following an organizational review – 370 of which were in Canada.
Nogier did not clarify where the latest cuts would be happening but said both Enbridge and Spectra Energy would be affected.