Low oil prices have hit Alberta so hard that companies working in and related to the oilsands industry are being forced to make tough decisions in order to stay alive.
One of those businesses is Canadian Natural Resources Ltd., an oilsands mining company with offices in Calgary and Aberdeen, Scotland.
They’ve informed their workers that due to economic factors, and “current fiscal and regulatory challenges”, pay will be cut by up to a whopping 10%!
“In this environment, Canadian Natural is taking additional actions to further reduce costs and to protect the robustness of the company by implementing a salary reduction of up to 10 per cent for all Calgary and Aberdeen staff,” said the statement from spokeswoman Julie Woo. “The salary reduction is higher for higher salaried individuals.”
No word on how many staff (there are more than 7,600 employees) will be hit with this pay cut, nor how much these cuts will save the company.
Would you be willing to take a pay cut to keep you and your coworkers employed? Is it fair to ask workers making more money to take a larger pay cut? Are you better off walking away from the job and finding employment elsewhere, where you will be fully compensated for the services you provide?