Former Canadian Prime Minister Stephen Harper, as the newly appointed board chair of the Alberta Investment Management Corporation (AIMCo), which manages investments for several Alberta public sector pension plans, has fired 19 of the Crown corporation's employees.
The layoffs were reported on Tuesday. Among the employees let go, one was specifically responsible for running AIMCo's DEI program. All positions eliminated were in non-investment roles.
The decision to cut the positions was part of a broad move to reduce operating expenses, following criticism from Alberta Finance Minister Nate Horner about AIMCo's rising costs, including employee numbers, which were deemed unacceptable compared to its investment performance.
AIMCo's assets are approximately $160 billion — the company employs around 600 people.
The action came after significant changes in AIMCo's leadership in November 2024, when Horner dismissed the previous board of directors, the CEO, and other senior executives, citing poor investment returns and high costs.
Harper was then appointed as the board chair, with Ray Gilmour named as interim CEO.
Opposition NDP health critic Sarah Hoffman expressed disappointment with the decision to cut the DEI lead role, indicating it as a step backward in terms of equity and inclusion efforts.
"I have a lot of young people in my life who look to their government, to the decision-makers, to create a world that's better than the one that we inherited from the generation before us. And it feels like this is a move in the wrong direction," she said.
AIMCo's spokesperson, Carolyn Quick, emphasized that despite the layoffs, the company remains committed to DEI, suggesting the responsibilities would be shared among all colleagues.