RE:The Prudent Thing To Do...... Could not agree more. Cut the Dividend, turn it into a positive eps at this point.
Salaries have already been cut. from the top down. 10% to those in the field 18% to senior board members etc. This was in their Feb 25th news release.
"Trican has also reduced its North American work force by approximately 600 people to date." That was in their same release.
First hand I know they implemented another 20-30% cut in jobs across the board... I was one of them. Where I worked got rid of 28-30%, through friends in the company I found out a base an hour away another 20-25% of employees.
They are cutting.. The question better yet is why they arent sharing the news. Why they'll only report it come first quarter results. Its as if they have little management skills or perhaps they just want the price to drop for ulterior reasons.
Oh ya, Im from Alberta Canada