Restructuring at Calgary-based TC Energy Corporation has resulted in the loss of jobs.
The move comes after the company, formerly known as TransCanada Corporation, signed a memorandum of understanding with Natural Law Energy which represents four First Nations in Alberta and one in Saskatchewan.
The deal, which is expected to be finalized later this year, will see Natural Law Energy purchase an equity stake in the Keystone XL pipeline.
“Our Canada Gas Operations & Projects team is implementing a new structure to ensure the optimal skill sets to navigate the next tranche of our expansion and operations,” said TC Energy in a statement released Tuesday afternoon. “TC Energy continually reviews our organizational structure and processes to ensure we continue to deliver safe and reliable services while meeting the needs of our customers. As ordinary course of operating our business, staffing changes are made as required to remain competitive and optimize our operations.”
TC Energy has not disclosed how many positions were cut as a result of the staffing changes.
Alberta’s opposition NDP says the layoffs are a direct result of missteps by the provincial government and are calling on the UCP to release how many TC Energy employees lost their jobs.
“Jason Kenney and the UCP gave TC Energy $7.5 billion dollars [sic] with no strings attached,” said NDP MLAs Irfan Sabir and Deron Bilous in a statement released Tuesday afternoon. “The layoffs today are a devastating example of Jason Kenney’s failure to create jobs and spur economic growth. Jason Kenney and the UCP lost 50,000 jobs before the pandemic. Now even more people are wondering how they’re going to pay their bills, put food on their table, and support their families.”
The NDP are calling on Premier Jason Kenney to release the undisclosed details of the deal the Government of Alberta made with TC Energy earlier this year.
“Albertans deserve to know where their $7.5 billions [sic] went, what will happen if this project fails completely, and how many more jobs will be lost while rich shareholders and profitable corporations fill their pockets at the expense of Albertans,” said Irfan.
According to the NDP, the cuts at TC Energy included layoffs in management.
Short-video app Quibi shutting down just months after launch – CP24 Toronto's Breaking News
Tali Arbel, The Associated Press
Published Wednesday, October 21, 2020 8:43PM EDT
Short-video app Quibi said it is shutting down just six months after its early April launch, having struggled to find customers.
The company said Wednesday that it would wind down its operations and plans to sell its assets. “Quibi is not succeeding,” its top executives bluntly declared in a letter posted online.
The video platform – designed for people who were out and about to watch on their phones – was one of a slew of new streaming services started to challenge Netflix over the past few years, most of which were part of much bigger tech and entertainment companies, like Apple and Disney.
Quibi, short for “quick bites,” raised $1.75 billion from investors including Hollywood players Disney, NBCUniversal and Viacom and its leadership were big names: entertainment industry heavyweight Jeffrey Katzenberg and former Hewlett-Packard CEO Meg Whitman.
But the service struggled to reach viewers, despite a 90-day free trial, as short videos abound on the internet and the coronavirus pandemic kept many people at home. Part of the appeal of the service, which started at $5 a month, was supposed to be that you could watch short videos while out, without access to a TV. Being stuck at home made TV more desirable than watching on a phone, and Quibi only later and slowly rolled out TV options. Katzenberg blamed the pandemic for Quibi’s woes.
Katzenberg’s connections helped line up stars to make and star in its videos, including Reese Witherspoon, Steven Spielberg and Jennifer Lopez. There was a short version of “60 Minutes” and reality shows. The shows never achieved big name recognition, although the platform scored some Emmys earlier this year.
Why did it fail? “Likely for one of two reasons: because the idea itself wasn’t strong enough to justify a standalone streaming service or because of our timing,” Katzenberg and Whitman wrote. “Unfortunately, we will never know but we suspect it’s been a combination of the two.”
Quibi doesn’t release subscriber figures. Mobile research firm Sensor Tower estimates 9.6 million installations of Quibi’s mobile app since its launch; that doesn’t mean those are actually users. Other streaming services have benefited from having customers stuck at home during the pandemic. One of the most successful new services, Disney Plus, has more than 60 million subscribers. Netflix has had a blockbuster year.
“While we have enough capital to continue operating for a significant period of time, we made the difficult decision to wind down the business, return cash to our shareholders, and say goodbye to our talented colleagues with grace,” Whitman, the CEO, said in a statement.
The company said that money from the sale of its assets will go toward paying off liabilities and whatever remains will be returned to investors.
Quibi app to shut down – Entertainment News – Castanet.net
Photo: Adriana M. Barraza/WENN
Movie mogul Jeffrey Katzenberg’s mobile streaming service, Quibi, is shutting down, six months after it launched with original series and films featuring Anna Kendrick and Sophie Turner.
Katzenberg and his partner Meg Whitman are expected to confirm their decision to wind down the short-form video service this week after speaking with investors, according to Deadline.
The service launched in April just after COVID-19 shut down Hollywood.
Initial pay-to-view items on the service included projects directed by heavyweights Steven Spielberg, Guillermo del Toro, and Antoine Fuqua, while Kendrick’s series Dummy and Kiefer Sutherland’s remake of The Fugitive became quick hits. The service also produced the Emmy-winning series #FreeRayshawn.
Quibi is shutting down just six months after launching – MobileSyrup
Surprise: Quibi is dead.
Quibi, a short form mobile-focused video streaming service that struggled to find an audience amid a global pandemic where many people are working from home, is shutting down, according to The Wall Street Journal.
Given the platform was available for only six months, this makes it one of the shortest-lived streaming services ever.
Several factors likely played into Quibi’s untimely demise, including that a mobile-focused streaming service doesn’t make sense when people are home, that none of its content was really compelling enough to attract returning subscribers, and the fact that you can watch short-form video content on platforms like YouTube and TikTok entirely for free.
It’s unclear what will happen to Quibi’s lineup of celebrity-filled content. The Information initially reported co-founder Jeffrey Katzenberg, who is also the former Walt Disney Studios chairman, attempted to sell Quibi’s content to Facebook and NBCUniversal, but ultimately failed.
Quibi launched in Canada on April 6th for $6.99 per month for a subscription tier that featured ads and $9.99 per month to remove ads. The platform forged a partnership with Bell that included exclusive sports and news content from CTV News and TSN. Bell’s Quibi initiatives will likely be cancelled entirely. MobileSyrup has reached out to Bell for more information.
It’s also worth noting the report of Quibi’s shutdown comes just two days after Bell Media president Randy Lennox announced that he’s departing the company. Lennox was reportedly the driving force behind Bell’s investment in Quibi.
Quibi allowed viewers to watch content in both landscape and portrait mode. While the platform was initially off to a strong start, it struggled to keep subscribers around after it’s free trial ended. Some reports indicated that Quibi lost 92 percent of its early users following the end of the platform’s free trial.
Notable content included Let’s Roll with Tony Greenhand, a show about a man that rolls ornate marijuana spliffs for celebrities, Bad Ideas with Adam Devine, 50 States of Fright, Chrissy’s Court with Chrissy Teigen and several more.
For a complete list of Quibi’s content, follow this link.
It remains unclear when Quibi will remain operational until or what will happen to users that have paid a subscription fee. MobileSyrup has reached out for more information from Quibi.
Update 10/21/2020 6:43pm: Quibi has confirmed that it’s shutting down in a press release. It says that “following the company’s wind down and satisfaction of all liabilities, the remaining funds will be returned to its investors as specified in the company’s operating agreement. ”
“We have assembled a world-class creative and engineering team that has created an original platform fueled by groundbreaking technology and IP, enabling consumers to view premium content in a whole new way. The world has changed dramatically since Quibi launched and our standalone business model is no longer viable. I am deeply grateful to our employees, investors, talent, studio partners and advertisers for their partnership in bringing Quibi to millions of mobile devices,” said Katzenberg in the press release.
Quibi says that it’s working with “legal and financial advisors” to “identify a suitable buyer or buyers for its assets.”
Regarding subscribers, Quibi says that it’s sending out notifications regarding the final date they will be able to access the platform.
Further, Bell says that it’s “in touch with Quibi management and discussing next steps.”
Source: The Wall Street Journal
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