Enbridge to cut 650 jobs due to 'increasingly challenging' business conditions

CALGARY — Enbridge Inc. says it is cutting its workforce by 650 positions due to "increasingly challenging business conditions."

Enbridge spokeswoman Gina Sutherland confirmed the cuts in an email Tuesday, adding the company aims to complete the job reductions by March 1.

She says the pipeline giant is among many companies currently facing persistent headwinds including higher interest rates, economic uncertainty and the ripple effects of geopolitical developments.

Sutherland says the company must cut costs and strengthen its competitiveness to weather the near-term challenges.

Enbridge is headquartered in Calgary and currently has approximately 12,000 employees, primarily in the U.S. and Canada.

Sutherland says the job reductions will be made across the organization. She did not provide specifics on which individual business units or regions would be most affected.

This report by The Canadian Press was first published Jan. 30, 2024.

Companies in this story: (TSX:ENB)

© 2024 The Canadian Press. All rights reserved., source Canadian Press DataFile