The union representing Air Canada flight attendants says the airline is set to ask employees to work less — or not at all — as concerns over job security buffet the airline industry.
Air Canada will ask workers to slash their schedules, go on leave for up to two years or resign with travel privileges, according to an internal bulletin to members from the Canadian Union of Public Employees (CUPE) sent out Thursday night and obtained by The Canadian Press.
The memo states that CUPE is in discussions with Air Canada over continuing the federal wage subsidy, which the airline has not committed to maintain past June 6.
“We know this news is not what any of us were expecting,” states the bulletin, signed by the president of CUPE’s Air Canada component and two other union officials.
“The reality is that COVID-19 has severely impacted the demand for air travel over the past few months and into the foreseeable future. As such, there is no denying that we are dealing with the largest surplus of cabin personnel in our history.”
Air Canada planes sit on the tarmac at Pearson International Airport in Toronto on April 8. More than 200 Air Canada planes remain grounded amid the collapse of global travel triggered by the COVID-19 pandemic. (Nathan Denette/The Canadian Press)
Air Canada confirmed that further cuts are imminent.
“We expect that both the overall industry and our airline will be considerably smaller for some time, which will unfortunately result in significant reductions in both fleet and employee levels,” the airline said in an email.
It did not answer questions about whether it would drop the Canada emergency wage subsidy, which Ottawa recently extended through August, or how many layoffs were upcoming.
Air Canada announced five weeks ago it would rehire 16,500 laid-off employees — including 6,800 flight attendants — via the subsidy program, which covers 75 per cent of a worker’s normal hourly wages or up to $847 per week.
An Air Canada worker cleans a ticketing station at Pearson International Airport in Toronto on April 8. (Nathan Denette/The Canadian Press)
The vast majority of rehired Air Canada employees have stayed at home under the subsidy as more than 200 planes remain grounded amid the collapse of global travel triggered by the COVID-19 pandemic.
While Air Canada is not contributing to most worker wages, the airline has continued to put money toward pensions and benefits, a continuous cash drain at a company that lost more than $1 billion last quarter.
The Montreal-based company has been bleeding cash since mid-March, slashing its flight capacity by over 90 per cent ahead of even fewer expected passengers between April and June.
Though traffic is expected to pick up somewhat before year’s end, more than 200 planes remain grounded and Air Canada CEO Calin Rovinescu said last week the recovery will be slow, with at least three years of subpar earnings.
ST. JOHN’S, N.L. – Suncor Energy has been fined $90,000 after pleading guilty to two charges stemming from a worker injury in 2019 aboard its production vessel in an oilfield off the coast of Newfoundland.
In a news release Thursday, the province’s offshore oil regular said the company must also give $20,000 to the College of the North Atlantic’s health and safety management program.
The Canada-Newfoundland and Labrador Offshore Petroleum Board says Calgary-based Suncor pleaded guilty on Sept. 5 for failing to ensure the safety of its employees and failing to ensure its employees wore a safety harness attached to a lifeline while inside a confined space.
The board says a worker fell 7.6 metres from a safety ladder while testing for hydrogen sulfide in a ballast tank on the floating production and storage vessel in the Terra Nova offshore oilfield.
An agreed statement of facts says two emergency response workers then went into the tank to tend to the fallen man, and they were not wearing gas masks.
Suncor Energy is the majority owner of the Terra Nova oilfield, and it reported net earnings of $1.57 billion in the second quarter of this year.
This report by The Canadian Press was first published Sept. 17, 2024.
Toronto-Dominion Bank has named new co-heads of its U.S. commercial banking business.
TD says Andy Bregenzer and Jill Gateman will jointly lead the operations.
The bank says the appointments follow the announcement earlier this year of Chris Giamo’s retirement.
Bregenzer will focus on leading all aspects of the regional commercial bank, including small business.
Gateman will lead TD’s national commercial banking effort in the U.S., including middle market, sponsor-backed finance and TD’s other specialty lending lines of business.
TD, which is working to resolve investigations into failures in its anti-money laundering program in the U.S., announced last week that chief executive Bharat Masrani would retire next year and be replaced by Raymond Chun.
This report by The Canadian Press was first published Sept. 26, 2024.
MONTREAL – Lightspeed Commerce Inc. says it is conducting a review of its business and operations including talks relating to a range of potential strategic alternatives.
The Montreal-based payments technology company made the comments after reports concerning a potential transaction involving the company.
Lightspeed says it periodically undertakes a review of its business and operations with a view of realizing its full potential.
A strategic review is often seen by investors as a prelude to a sale by a company.
Lightspeed says its board of directors is committed to acting in the best interests of the company and its stakeholders.
Company founder Dax Dasilva returned to the role of chief executive officer earlier this year and has been working to return the company to profitability.
This report by The Canadian Press was first published Sept. 26, 2024.
