🗳️ Question of the Week

AIMCo lays off 19 employees while being celebrated as a ‘top employer’

There are moments when you can’t quite believe the timing of news stories. Unfortunately for Alberta’s pension management organization, last Tuesday was one of those days.

On the same day that the Alberta Investment Management Corporation (AIMCo) was spotlighted on a list of the province’s top employers, the Canadian Press reported that the company had laid off 19 employees, including the lead of its diversity, equity, and inclusion (DEI) program.

In an email, spokesperson Carolyn Quick said, “All AIMCo colleagues will continue to share the responsibility and accountability for ensuring AIMCo remains diverse, inclusive, innovative, and motivating, in keeping with our corporate objectives and core values.”

While leaders at the organization may feel that shared responsibility is enough, for others, the recent changes are likely to raise questions about AIMCo’s commitment to inclusion. In a story full of irony, AIMCo was also ranked as a top employer for young people: a demographic that is widely recognized for prioritizing DEI when choosing a workplace.

This week’s layoffs come after serious organizational changes in November, when Alberta finance minister Nathan Horner fired AIMCo’s entire board of directors. Three senior executives were dismissed at the same time, including human resources lead Krista Pell.

Currently sitting on AIMCo’s five-person board is former prime minister Stephen Harper, as board chair. Alongside Harper are Alberta’s deputy minister of treasury board and finance, Katherine White; the former president and CEO of the Healthcare of Ontario Pension plan; and two additional board members with investment backgrounds.

There are currently no human resources positions listed on the AIMCo website’s leadership page.

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