Waterloo Region power plants say no job cuts in planned merger

KITCHENER -

The planned merger of Waterloo North and Kitchener-Wilmot Hydro will not involve job cuts, according to the two head of the companies.

Both Rene Gatien, CEO of Waterloo North Hydro, and Kitchener-Wilmot Hydro CEO Jerry Van Ooteghem affirmed this message during a public forum Tuesday night.

“We need most of the people that we have,” said Gatien, “Both of these businesses are run very lean, so we’re going to really keep most of the people that we have.

“All of them, other than those retiring, are needed to run this business.”

Officials say the main goals of the planned merger are to provide stable electricity rates for customers and invest in better technology.

The two companies expect to achieve some operational savings in both the short and long term, which they say will be reinvested in those goals.

“We do have a need for all of our staff,” said Van Ooteghem. “Any staffing level changes will be through attrition or retirements.”

The companies hope to have shareholders’ approval by December, which will then require the Ontario Energy Board to sign off on the merger.