TC Energy cutting jobs to ‘optimize value’

TC Energy is laying off an undisclosed number of employees, according to a report by Reuters. The job cuts have been confirmed by a spokesperson at the Calgary-based Canadian energy company.

More details: Industry sources believe the total number of layoffs at TC Energy are much smaller than those at Suncor, whose new CEO Rich Kruger is determined to slash costs and boost efficiency.

• TC Energy told Reuters in an email that the company constantly examines its operations and eliminates positions as the business changes.
• “These decisions are difficult but necessary to optimize the value for our business,” said the spokesperson.
• The terminations come shortly after layoffs at Suncor and news that Irving Oil is considering a sale. Earlier this year Imperial Oil decided to reduce the number of contractors at its Kearl oil sands project.
• TC Energy owns the Keystone oil pipeline and is responsible for delivering 25% of North America’s natural gas supply. It laid off over 1,000 workers in 2021 after the United States cancelled the Keystone XL project.

Termination agreements for TC Energy employees

In Canada, non-unionized employees and senior executives at TC Energy are owed full severance pay when they lose their jobs due to downsizing or corporate restructuring.

This includes individuals working full-time, part-time, or hourly in Ontario, Alberta, and B.C.

Severance can be as much as 24 months’ pay, depending on a number of factors.

LEARN MORE
• Severance packages in mass layoffs
• Rights to severance for provincially regulated employees
• Severance pay in a recession 

WATCH: Employment lawyer Lior Samfiru explains what rights employees have if they are being fired or let go on an episode of the Employment Law Show.

Before you accept any severance offer, have an experienced employment lawyer at Samfiru Tumarkin LLP review it and your employment contract.

We can tell you if what you have been provided is fair and how to get proper compensation if it falls short of what you are actually owed.

If you aren’t given the full amount, which happens often, you have been wrongfully dismissed and are entitled to compensation.

In some cases, employers pressure staff into accepting poor severance packages, such as imposing a deadline for accepting the offer.

Non-unionized employees in Canada have up to two years from the date of their dismissal to pursue a claim for full severance pay.