ICBC cuts 12 senior management jobs, saves $2.2 million/year
 

kind of an old news, but I didn't know that this had happen :eek1:

ICBC cuts 12 senior management jobs

ICBC cuts 12 senior management jobs

By Bethany Lindsay, Vancouver Sun December 3, 2014

The Insurance Corp. of B.C. is cutting 12 positions from its senior management team, including two vice-presidents.

The cuts will result in the loss of two corporate divisions at the insurance provider, and will save about $2.2 million in annual operating expenses.

“All these changes have been planned for some time as part of the natural evolution of the company,” ICBC spokesman Adam Grossman said in an email. “Our goals are to operate in a low-cost manner, keep rates as low as possible and deliver valued services for British Columbians, and we will be a leaner organization as a result.”

The cuts are unlikely to result in lower rates for customers. Grossman said those are mainly driven by injury claims costs, which total about $2 billion each year.

http://www.vancouversun.com/business...ry/9527549.jpg
ICBC headquarters in North Vancouver. The agency will send $480 million in profits to Victoria in the next three years, according to Tuesday’s provincial budget.

You suck, Timpo.

So that's an average of $183k per manager... not really outrageous pay for senior management.

Until you realize that they classify like 25% of their workforce as senior management...:rukidding:

We need the luck of the Irish on St. Patrick's Day in order for Translink to axe some of their high paying executives. :lawl:

#notgonnahappen

Only 12??? :rukidding:

Kind of old? Really Timpo?

Either way it's a good start, too much worthless middle management in these companies.

BC Ferries could learn a thing, or two from this...

*ahem* translink *AHEM*