January, 8, 2001

Employee letter

When I received your e-mail suggesting that Wajax had a huge surplus in our pension fund, and was planning to keep it or use it for their own benefit I really could not believe they would do such a thing.  I also found it very hard to believe they had not contributed to the fund since 1986.  I was at one of the pension meetings in November and there was no mention of a surplus.  There was no mention of Wajax not contributing to the fund either

I began to have some doubts when I received Mr Doug Ball’s first memo, because as one of my co-workers said “it doesn’t have any substance”.  Then when he sent out the last memo I knew for sure that something was very wrong about the whole setup.  He did not deny your statement that the whole surplus came from employee contributions and he avoided admitting how many years Wajax had skipped their contributions.  He did say they were “simply” changing the plan, not terminating it.  But the new “changed” plan is completely different – it can’t earn any surplus. 

I’m really losing my faith in the company because now I can see they have no intention of giving us our money.  Maybe it’s because the management are all new – they’ve all been hired in the last two or three years. That’s why they don’t seem to care about the employees who have been giving their hard-earned money since 1986 to earn this surplus.  All I can say is this is a sad day for the employees and a shameful day for Wajax.