Canadian Natural Resources Ltd. of Calgary is an oil industry employer facing economic challenge because of the sharp and rapid decline in global price of oil. CNRL, unlike several other companies in the Alberta oil industry, decided against mass layoffs, but this week announced an up to 10% cut in salary for staff in Calgary and Scotland. Senior management and higher paid employees will face the full 10% cut. Senior management already absorbed an additional 10% salary cut earlier this year. Across the board salary cuts vs mass layoffs.
Guest: Joe McFarland. News director, News Talk 770 Calgary