THE REALITIES OF THE FINANCIAL CRISIS

The near meltdown in the world’s financial markets has had a significant impact on the world’s economies. The Canadian banking system has faired much better than any other country, but our economy continues to struggle.

At the Mullen Group we are also feeling the impact of the economic slowdown as well as lower commodity prices, which have translated into significant declines in oil and natural gas drilling activity in western Canada. In response to this slowdown we have implemented a wide range of cost reduction initiatives throughout our organization, including a wage and hiring freeze, a restructuring of impacted business units and a company-wide commitment to eliminate costs. More