Are we done with layoffs after this week (at least for a while) or will there be more next week? I keep thinking the number was low compared to what we were expecting, which would mean this was just a start.
Any chance somebody can tell me I'm being paranoid so that I can relax over the weekend instead of stress over it?
IP guy is either unemployed or a pee-on. I know a lot of people making big $$$$ and none of them waste time on this site.
Are you kidding? The IP guy is why the company is afloat. You take your backwards thinking elsewhere buddy
Can someone gag the IP guy? He'll get his walking papers once the projects are completed or the company goes bankrupt.
I’ve got 21 years with the company. Many years ago I started divesting myself of ENB annually, and diversifying. I would transfer the shares in kind to external equivalent vehicles and sell them. That has served me well. Limited my exposure to no more than one year of benefits.
ENB is fabulous for the dividend but it’s not alone.
If you left it all in one chunk for your whole career, it was simply a mistake. An easy one to make, to be sure, but it is a question of financial literacy. Understanding the risks in your portfolio is important, and the fossil fuels industry is rife with them.
Your salary and pension are tied to Enbridge stock. Why would you have any in your 401K? If i could put my pension funds elsewhere I would. Even if our stock was doing well I wouldnt hold any additional. Did no one learn from Enron. Thats finance 101. Why have more than your salary tied to 1 company.
You get stocks, RRSP (401k) matching, pension and still complaining. Who is holding a gun to your head to stay and be so miserable or are you just un-employable elsewhere?
Just remember you are getting screwed even if you are not laid off. If you have been with the company for let’s say 10 years and the avg stock price was $40 over those years. Now it is $30, so you got screwed for 25% of whatever they gave as 401k match and pension. So if you had $100k in match over 10 yrs (assuming 100k salary, 5% 401k match and 5% pension) you just lost 25k and another 30 to 40k that your $ would have grown if you had it in just index funds. That is what happens when the company is dying. Think of it is as GE from 3 or 4 yrs ago.
It is shameful how all of these great standalone companies are being amalgamated into one big debt burdened company worth less than their individual counterparts resulting in mass layoffs that affect thousands of lives.
It's a start.
Utility directors next week. Then Q1 & Q2 large layoffs for the rest of utility staff.
OMG I was so worried, but then the light shined down on me and we heard from IPLE guy! We are all saved! Just think how many quality posts IPLE guy could make per day if he was BEOF'd?
Rum, IPLE guy, Run!
Are you part of Infrastructure Planning? Then you are safe. No chance that Enbridge would touch the their most valuable group of talent. Unfortunately outside of IP, I can not give any assurances. With a tough business client and the cyclical nature of projects we can expect contractions and expansions as needed. Keep your head up
U can relax friend. We’re done for now.