Company News

CORRECTED-Enbridge says 800 workers take voluntary buyouts

(Corrects paragraph 2 to clarify that the pay-cut range of 10% to 15% is for Enbridge’s directors, CEO and EVPs, and not across the non-union workforce)

June 17 (Reuters) - Enbridge Inc, Canada’s largest pipeline operator, said on Wednesday about 800 employees have chosen to take voluntary buyouts, as the company tries to reduce costs amid dual challenges of COVID-19 and the global oil price shock.

In an email response to Reuters, Enbridge said it is reducing base pay across its non-union workforce, with the board of directors and CEO Al Monaco taking a 15% cut and the company’s executive vice presidents taking a 10% cut.

Reporting by Shradha Singh in Bengaluru; Editing by Maju Samuel