The dismantling of Nalcor continued yesterday, with firings and restructuring to eliminate duplication and streamline the new Newfoundland and Labrador Hydro.
The recommendation for Hydro to absorb Nalcor came from the Public Utilities Board last year but was also a key commitment by the Liberals in the wake of Muskrat Falls.
Government announced it in June, promising tangible changes within months.
Yesterday, three senior executives were terminated and three others were offered demotions.
Hydro CEO Jennifer Williams says the firings will cost Hydro $1.5-million in severance, versus $2.2-million in yearly compensation.
She said it was a difficult day all around and declined to name those who were let go. “This is hours old for some folks. So I think in respect for the folks impacted as well as the people that they work with, I prefer not to get into any specific detail here.”
In the end, the executive has been cut from 18 to 11 people, with some other shuffling around of responsibilities for more savings.
Williams says the priorities continue to be safety, streamlining operations and getting Muskrat Falls to the finish line, although she had no update yesterday on when that will be.
As for shedding the Nalcor brand, she noted that will take some time for Hydro subsidiaries, as well as herself. “I think it’s gonna be really tough to not say the word Nalcor going forward, and I think that that’s OK.”






















