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Colonial informed employees of changes this week -
statement
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Job cuts follow takeover of Colonial by asset manager
Brookfield
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No operational impact from changes, Colonial says
By Shariq Khan
NEW YORK, Oct 9 (Reuters) - The Colonial Pipeline
Company, operator of the largest U.S. fuel transportation
system, informed employees this week it is planning to cut some
jobs, according to two sources familiar with the matter and a
company statement.
"We shared with our employees this week that a recent review
to ensure our organization is best aligned to continue safely
meeting our business strategy and priorities will result in
changes to various team structures and some individual roles,"
the company said in response to Reuters queries about the job
cuts.
The scope of the job cuts could not be learned immediately.
Colonial Pipeline declined to say how many jobs would be cut.
The changes come just months after New York-based asset manager
Brookfield Infrastructure Partners ( BIP/PA ) took over Colonial in
a deal valued at about $9 billion, becoming the first sole owner
of the over 5,500-mile pipeline network since its construction
in the 1960s.
The company was previously owned by European oil major Shell
, investment firm KKR, Canadian pension fund
Caisse de dépôt et placement du Québec, private U.S.
conglomerate Koch's investments arm, and asset manager IFM
Investors.
Colonial, which moves over 2.5 million barrels per day of fuel
from the U.S. Gulf Coast to top consumption centers across the
country's East Coast, said the changes will not affect its
operations.
"The changes do not affect our commitment to providing safe,
reliable, and responsible fuel transportation services for more
than 50 million Americans daily," it said in the statement.
Colonial this year has made efforts to raise the amount of
fuel it can move on its network through a combination of
operational enhancements and changes to the way products are
placed and delivered on its system, although the latter
attracted protests from its shippers.