Did I hear it correctly from our Upstream VP that, engineering will be trimmed in size by 10%??
And the 10% reduction is AFTER including the new hires from now till 2025??
Can someone please enlighten me if I got the message correctly!!
4 replies (most recent on top)
Not just employees, even shareholders want good employees. A set of good employees make day-night difference in a plant’s production.
Once Imperial gets rid of the good employees it will be like Suncor - share prices will be stagnant, and have catastrophic incidents, God forgive including fatalities, in the plant.
How else will they reduce the headcount and costs?
EM has always had a 5% headcount reduction policy, they are just a little more agressive now after COVID. EM is in the business of making a profit, for that matter all private corporations are in a capitalist economy. This isn't a socialist or communist country, the USSR and command economies ended in 1990.
Especially Alberta which is a business friendly UCP province, I am surprised there is grumbling when it comes to cost reducing profit boosting business friendly policies.
We're going to shrink our way to greatness! It always works.
10% reduction next year. This doesn’t include attrition and retirements.