Reid Southwick, Postmedia Network
, Last Updated: 12:48 PM ET
CALGARY – Enbridge Inc. is shedding another 1,000 jobs after its $ 37-billion takeover of Spectra Energy Corp.
The Calgary-based pipeline firm said the cuts — which represent six per cent of its workforce — are part of the “synergies” it expects as the combined company full integrates over the coming months.
The layoffs are in addition to 530 positions it eliminated last year following an organizational review. Those cuts, which the company said were not related to the Spectra deal, included 370 jobs lost in Canada and 160 in the United States.
The latest layoffs are expected to be spread across the combined company, but there were no details about the impact on its Canadian operations.
“After careful evaluation, Enbridge has taken the difficult but necessary step to address the overlap in the combined company’s organizational structure,” Enbridge spokesman Todd Nogier said in a statement.
“Throughout this process, Enbridge is committed to treating people fairly and with respect,” he said.
Enbridge bought Houston-based Spectra in an all-stock deal to create the largest pipeline company by market value in North America.
THE OTHER 5 BIGGEST FOREIGN TAKEOVERS BY CANADIAN COMPANIES
March 2016: TransCanada Corp. of Calgary announces it’s buying Houston-based Columbia Pipeline Group in a US$ 13 billion deal, including US$ 2.8 billion in liabilities.
June 2015: A division of the Canada Pension Plan Investment Board buys GE Antares Capital from General Electric Co. for an estimated US$ 12 billion.
February 2016: Fortis, headquartered in St. John’s, N.L., announces it’s buying independent U.S. transmission utility ITC Holding Corp. for US$ 11.3 billion. The deal is expected to close later this year.
September 2003: Manulife Financial Corp. acquires John Hancock Financial Services in an all-stock deal worth US$ 11.1 billion.
September 2015: Halifax-based utility company Emera announces it’s buying Florida-based TECO Energy for US$ 10.4 billion in cash and shares, including US$ 3.9 billion in liabilities.