Canadian diamond mine completely relocates HQ to another state to save $19 million CAD

The trend for global relocations is growing, driven by efficiency measures, an increasingly globalised world, a mobile workforce and ubiquitous connectivity, which makes it easier to do business across the world. Most large companies now will have operations across the world, with HQs often sited to take advantage of generous tax regimes, rather than being the philosophical heartland of the brand. Both those looking to move domestically and business based will search for the best removal and relocation firms in their area. If you are looking for Removal Companies Essex you are sure to find the perfect one for your requirements. One interesting example of this is McDonalds, who has only just announced that it will be relocating its non-US operations HQ away from Luxembourg to the UK.

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Meanwhile, in Canada, Dominion Diamond Corporation, the diamond giant, is planning to relocate its Yellowknife HQ in the Northwest Territories, down to Calgary in Alberta. Once fully in place, the move is expected to save the company $19 million CAD annually.

Concerning news for the Northwest Territories?

The move will cost around a hundred jobs in the Northwest territories though, and will strike a real blow for the local population, where employment is specific and can be scarce in some industries. The move is expected to be finalised in the middle of next year, without any expected interruptions to the Jay pipe project or the Ekati mine.

Ekati Mine operations to continue

This news will partially soften the blow at least for the NWT communities, as the Ekati mine is a key employer and economic driver in the area. Dominion Diamond has said that the cost savings made from the relocation will allow it to continue to commit to employment opportunities in the future. It has already stated that the majority of its workforce in the Northwest Territories will be retained, and that Yellowknife will still be a key operational area.

The news shows that corporations will no doubt continue to assess the viability of their operations in the coming year, to ascertain whether cost savings can be achieved by moving key sites to other locations, so long as local skills, trading conditions and infrastructure are adequate. This means that corporate relocation companies are likely to see growth in business, as key staff are transferred to new sites.

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