Green For Life Environmental (GFL), a prominent waste management company known for its local garbage contracts, revealed plans to shift its corporate headquarters from Vaughan to Miami, resulting in the loss of around twelve jobs, as confirmed by its CEO in an interview with CityNews.
According to a statement released by the company, the relocation is aimed at expanding GFL’s shareholder base by meeting the criteria for inclusion in major U.S. equity indices. Despite the move, GFL emphasized its commitment to growing its presence in Canada and retaining its Canadian jurisdiction of incorporation and TSX listing.
Patick Dovigi, the founder and CEO of GFL, assured that the company’s legal home would remain in Ontario, emphasizing continuity despite the shift to Miami.
Addressing concerns about job losses, Dovigi mentioned that approximately a dozen employees would be impacted by the relocation.
Dovigi highlighted that the move was designed to benefit investors in the publicly traded company, stating, “Expanding our presence in U.S. equity indices while maintaining eligibility for Canadian indices aligns with our strategy to attract a more diverse investor base and enhance visibility with shareholders.”
GFL, already a significant player in North America, derives a substantial portion of its revenue from the U.S., accounting for more than two-thirds of its total earnings, as per Dovigi.
The CEO also mentioned that the move aligns with GFL’s growth strategy in the U.S. market and is expected to facilitate the recruitment of skilled professionals from the American labor pool. Operations will continue at shared services hubs in Vaughan, Ontario, and Raleigh, North Carolina, ensuring business continuity in both countries.
With a workforce exceeding 15,000 employees, GFL remains a leading waste management company in North America, poised for further expansion and success.