The Financial Post reports in its Thursday, Feb. 1, edition that Enbridge is cutting staff by 650 people next month. The Post's Chris Varcoe writes that Enbridge sent a memo Tuesday confirming it will begin cuts in February. Enbridge confirmed in a statement: "After careful evaluation, Enbridge has made the difficult, yet necessary, decision to reduce its workforce. While we delivered strong financial performance in 2023, cost-reduction measures are necessary to maintain our financial strength, be more cost competitive and enable us to grow." In the memo, Enbridge pointed to continuing economic uncertainty, a challenging regulatory environment, higher interest rates, fierce competition for growth and the reverberations from geopolitical developments for contributing to "increasingly difficult business conditions." Enbridge has more than 12,000 employees, mainly based in Canada and the United States. The cuts represent slightly less than 6 per cent of its workers. Enbridge said it will look to reduce vacancies and contract positions, as well as placing staff elsewhere. During the third quarter of 2023, Enbridge reported adjusted earnings of $1.27-billion, down from $1.37-billion during the same period in 2022.