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Carbon Levy’s Impact On Local Businesses Concerning For Chamber Of Commerce

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By Sheldon Spackman

After three and a half months of Alberta businesses living with the new Carbon Levy, the Red Deer and District Chamber of Commerce is voicing concern over the impact it’s having. The Chamber sent out a survey to 121 of it’s members from a cross section of industries recently to find out more about what impact, if any, Alberta’s Carbon Levy is having on them and the results are raising concerns.

Interim CEO Rick More points out most Central Alberta businesses are reporting higher costs and reduced profits during a fragile economic climate of low growth and high unemployment. The Chamber shared these statistics to paint a clearer picture of what is taking place:

  • 75% of polled Central Alberta businesses are facing higher costs from their vendors and suppliers because of the carbon levy but only 32% passed on cost increases to their customers.
  • As a result of the carbon levy, 44% of businesses report they expect to reduce their spending, 22% expect their sales to decline, and 60% expect their profits to decline.
  • 27% of businesses made changes to their operations to reduce or mitigate costs incurred from the carbon levy. Some methods included cutting the frequency of transportation activity, heating buildings less, and installing LED lights, other businesses had to resort to reducing hours, wages, and even cutting staff.

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Canadian Press NewsAlert: Unifor elects Lana Payne as president

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TORONTO — Canada’s largest private-sector union, Unifor, has elected Lana Payne as its new national president after former president Jerry Dias stepped down earlier this year.

More coming.

The Canadian Press

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Business

Hootsuite to lay off 30 per cent of staff, begin global restructuring

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VANCOUVER — Hootsuite Inc. says it will lay off 30 per cent of its staff as part of a global restructuring.

The Vancouver-based social media business declined to answer questions about the exact number of staff laid off, but the most recent figures from financial data firm Refinitiv show the company employs about 1,000 people.

The company also did not say what triggered the job cuts, but tech companies as large as Shopify, Netflix and Clearco have conducted similar layoffs in recent weeks as investor interest in tech stocks has faded.

Hootsuite CEO Tom Keiser says the move will help the company once considered a darling in Canada’s tech scene to realign itself with strategies that can make it successful.

He says Hootsuite needs to refocus, so it can drive efficiency, growth and financial sustainability.

In a statement, he said, “Today our focus is on our people, both those who are leaving us and those who are staying, and ensuring our customers continue to receive the support they need.”

This report by The Canadian Press was first published Aug. 9, 2022.

The Canadian Press

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