During an interview with BNN, Mullen Group CEO Murray Mullen this week, in which he warned the entire country will feel the pain from Albertaโs weakened economy and the commodities crash.
โIt is going to have contagion throughout the country. Thereโs no way to avoid it,โ Mullen said. โThese are very difficult times to migrate through.โ
Mullen said his specialized transportation company has already laid off more than 1,000 people.
He also said the low loonie has driven up equipment costs by 50% over the past year-and-a-half.
โWeโre going to have a very difficult time retooling our business. If you donโt retool your business, how do you become more productive?โ Mullen said.
Mullen also said trade patterns have shifted, with freight available southbound but few imports to transport back.
โThereโs a real change thatโs happening in trade patterns that Iโm not sure is working out in our favour,โ Mullen said.
Mullen said Canada needs โall hands on deckโ to create jobs and weather this economic storm.
