Enbridge Inc (ENB)

[eFinanceMarkets]

Enbridge to cut 1,000 jobs in wake of Spectra Energy acquisition
Enbridge (ENB +1.3%) says it will cut ~1K positions, or 6% of its work force, in its first layoffs after buying Spectra Energy.
ENB says duplications exist in the combined company's "organizational structure," and the workforce reductions are a component of the synergies expected over the coming months as it fully integrates the companies.
ENB has said it has no plans for consolidation at its three MLP businesses: Enbridge Energy Partners (EEP -0.9%), Midcoast Energy Partners (MEP) and Spectra Energy Partners (SEP -0.1%).