I wonder how many Hundreds of the Families that AM laid off over his Ten Year Regime, are able to retire as Multi-Millionaires?
I wonder if he ever thinks about Enbridge as a Company of People? Or if we were ONLY Numbers on his Corporate Balance sheet?
I wonder if his Hundreds of Millions of $$$ were ever enough to completely desensitize him from the Humanity that he dismissed in his quest to please his Board of Directors?
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i'am hearing cuts comming by the not charming but cunning CFO Vern. He and his close circle of friends hired som very high pricey consultants. How much was CFO paid last year $7,561,602. dollars... thta right over seven million dollars. There is no end to greed, finance people make money cutting others
We all watched the culture at Enbridge slide during the tenure of AM. He never had the employees in mind like PD did. Hopefully, GE can return some genuine appreciation to the workforce that Carries the company.
If you'd like an explanation, I can provide you one. During the growth phase from 2000 - 2012, Enbridge grew in a horribly inefficient fashion, bloating through role duplication, acquisitions without culling, and wildly generous behaviour. That had to be corrected, and it is, but for a company as large as this one, that correction takes time.
You don't structure your company as if the current state will persist forever. It won't. Can't build new pipe... can't replace old pipe... fossil fuels are facing a reckoning... you structure your company to handle the headwinds you see coming. Past performance is not a reason to stifle change.
The question is why would Enbridge lay people off when it has always made a tidy profit year after year. Just because some consultant concluded Enb employees are overpaid ? Long time employees are invested in the company in more ways than one. Non-MBA types look for an explanation.
Well, subtract out all of the folks who got the severance and then got another job, all of whom are not terribly impacted in retirement plans. It's not like they chopped of your legs on the way out the door. You make it sound like a paid layoff is the end of everybody's working life. If you got laid off and literally couldn't find a job, I'd wonder what skills you expected to keep you there.
The entire talent pool of Asset Performance could be CEO based on intelligence and skills alone, AND we are all top notch human beings with character, integrity and humility. Unfortunately Enb doesn't want actual high quality candidates in the C suite otherwise any of us would be there right now.
Yep you need to lose your humanity if you want to be CEO.
You don't get to the CEO chair by having a conscience. There are always a trail of bodies left during their climb to the top.
Meet the new boss. Same as the old boss...
I put in 15+ years of above average performance and was shown the door. Totally blindsided. You then realize you're just a name on a list to be crossed off when it suits them.
Good bye to that selfish no conscience leader.
Did nothing for front line people but step on their necks.
You're just a number. Never forget that.