Calgary-based Enbridge is planning to reduce its workforce by approximately 650 employees over the next month.
The Canadian pipeline and energy company confirmed the move in an emailed statement to CTV News on Tuesday, saying the cuts will take place in February and be completed by March 1.
“Decisions that impact our people are very difficult and will be made carefully,” the company said in a statement.
“To minimize impacts, we will be looking first at reducing vacancies, contract positions and redeploying people where possible.”
Enbridge could not provide specifics on which business units or regions would be affected.
Despite a strong performance in 2023, the company said cost reduction measures are necessary to maintain financial strength, competitiveness and growth.
“Persistent headwinds – including higher interest rates, economic uncertainty and the ripple effects of geopolitical developments – all contribute to increasingly challenging business conditions across many industries,” Enbridge said in its statement.
The company said it currently employs approximately 12,000 people, mostly in North America.
