Suncor Energy Inc.\u0027s recent job cuts show that employees often get caught in the crossfire when activist investors get involved. Read more.
Richard Power, associate professor with the Rotman School of Management at the University of Toronto, said those working at Suncor would have been wise to be nervous as soon as it became clear Elliott had their employer in its sights.
“I’m certainly not trying to minimize the contribution of employees, but to a large part, the employees are the low-hanging fruit,” Power said.Article content More recently, in the U.S., companies such as Walt Disney Co. and Facebook parent Meta have also announced major layoffs and restructuring plans in the aftermath of public pressure from activists.
But Anthony Schein, director of shareholder advocacy with the Shareholder Association for Research and Education , said companies are accountable to other stakeholders, not just shareholders.Article content
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