The Montréal International organization is laying off 16 of its 85 employees, almost 20% of its workforce. “It's a sad day. My thoughts today are for the whole gang. The government’s priorities have changed,” he explained in an interview with Newspaper its CEO, Stéphane Paquet.
The news, first reported by La Presse Canadienne, was confirmed by Le Journal on Wednesday afternoon.
“We no longer have the flavor we had in Quebec in recent years,” lamented one person who was part of the wave of layoffs earlier in the day.
A total of 16 employees were cut for financial reasons, including consultants and a vice president.
“Our budget is about $15 million to $17 million per year. That’s why we had to cut almost 20% of the workforce,” Stéphane Paquet, CEO of Montréal International (MI), told the Journal.
“What hurts most is our $1.8 million agreement with the Ministry of Immigration, Franciscanization and Integration, which will not be renewed,” he concludes. The fact that many funding contracts are not indexed also affects the organization, which had to act quickly.
severance pay
Are severance packages paid out to terminated employees?
MI's Big Boss says everyone was given eight weeks' notice as required by law, which equates to two months' paycheck.
Stéphane Paquet, President and CEO of Montreal International. Photo agency QMI, Joël Lemay
Only a vice president is entitled to a more generous amount because he has been with the organization for a good twenty years.
“In this case, the notice period is more than eight weeks, but I leave the discussions between him and me private,” summarized Stéphane Paquet.
Well-oiled machine
Founded 28 years ago, Montréal International is a non-profit organization that receives funding from Ottawa, Quebec and Montreal.
It claims to have helped attract the equivalent of $21 billion in investment projects and also enabled the creation or retention of around 80,000 jobs in Quebec.
The organization often works with governments to welcome businesses here. It has a well-functioning communication engine to highlight foreign companies landing here.
Business plan, financial incentives, network, studies, analysis… Montréal International helps companies establish themselves in the Greater Montreal area.
The offices are located on Saint-Antoine Street West in the city center.
– In collaboration with Sylvain Larocque
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