Without fanfare, the Quebec giant Olymel announced Tuesday, by press release, its intention to cut 177 executive positions, without being able to say where the ax would fall.
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In total, more than 120 executive positions out of the 177 were vacant in recent months, the cooperative said in its statement.
So 57 people in employment learned the bad news on Monday. A dismissal notice was sent to the Quebec government.
On Tuesday, Olymel spokesman Richard Vigneault told the Journal that we do not yet know which sites will be affected by this wave.
“The impacts of the COVID-19 pandemic and historic labor shortages for our facilities, market and supply chain disruptions, inflation in the price of raw materials, as well as “uncertain global economic conditions are all factors that militate in favor of greater optimization of companies’ business models,” said Olymel CEO Yanick Gervais.
Quebec shareholder
Basically, Olymel wants to “eliminate duplication” to achieve savings and efficiencies. We say we want to eliminate mainly administrative functions, mainly in Quebec.
Remember that in February 2022, union members at Olymel Princeville were able to obtain increases ranging from $7.44 to $7.64 per hour, or approximately 35%.
The Quebec government is a shareholder of Olymel. Investissement Québec (IQ) invested $150 million last year in the company.
Olymel, Flamingo, Pinty’s, Lafleur, F Ménard, Tour Eiffel… Olymel is behind well-known brands here and abroad.
About a year ago, its former CEO, Réjean Nadeau, died of cancer.
“I have always divided my life between my family, my loved ones and Olymel and rest assured that until the last moments of my life which are approaching, I will have our family photo in mind. I lived fully and I will leave serene, ”he wrote in a note before his departure.
- The country’s leading pork producer, Olymel has more than 15,000 employees in 35 plants and distribution centers. Its turnover is $4.5 billion.
