Heard last week at the office that something big is being planned for the end of January, but I can't figure out if the info is based on something concrete or if it's just an unsubstantiated rumor. Looking at other posts on this board, it... read more
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Topics regarding layoffs at Cenovus Energy
So when is the big layoff. What’s happening in the rumour mill?
The U.S. rig count has been on the rise for months, despite some recent hiccups, but Canada’s rig count recently plunged amid low oil prices. Canada’s rig count fell from 210 to 136 for the week ending on December 29, a massive drop off. That took... read more
It’s likely CVE is looking to sell additional Deep Basin assets to shore up their balance sheet in 2018. Next asset traunch from rumblings I’ve heard is the remainder of Clearwater. I’ve also heard they plan to scrap a long term production growth... read more
You bet you are never safe. You’re only drilling 15 wells next year. How many people do you need to do that? 15% is not enough should be way higher. Get your resume updated people your going to need it. One thing I learned from COP you can’t believe... read more
Obviously the polite mannered Canadians are taking this layoff with the usual "oh it's just business, don't take it personal" BS. Where are deep mole(s) that can anonymously get the word out to the rest of us peons. The process doesn't give a rats... read more
Somebody asked this already but there was no clear answer in the other thread, so I'm gonna try again like this: is the announced 500 to 700 with or without the several hundred who were laid off last week? Either way it's bad, but if it's with at... read more
Do we even know end of January layoffs are going to be the first ones? Considering they just laid off hundreds of people last week without any announcement or mention, who's to say they won't add more? Frankly, I don't think we are safe now or until... read more
It seems like Cenovus is going to let 500-700 people go at the end of January. It is really a terrible situation especially for former Conoco employees who recently moved to Cenovus. They might be laid off again.
I have been an employee of Cenovus for well over 5 years and what I’ve noticed is there is a continual change in leadership and upper management who seem to be unqualified and are only out for themselves. It is clear that it’s not what you know, but... read more
Announced this morning. 15% reductions overall or 500-700 in total. Foster Creek expansion on hold Narrows Lake Phase A on hold Deep Basin down to 15 wells and mostly in Q1.
Layoffs should not come as a surprise to anybody working at Cenovus. We've been having continuous layoffs without an end in sight for years now. The whole process has become a simple numbers game, completely ignoring who it is that is getting shown... read more
How long are ex COP protected against layoffs?
200-300 ppl in Dec along with some VPs/Directors. Another round in Jan. Soon we will have an entire building sitting empty.
So what’s the latest news st Cenovus? Are you all happy?
Been hearing the deep basin people could be getting big salary reductions? Any truths to the rumor?
Any word on how much production will be sold from this asset?
How many months/years of service? Any prorated bonus? Benefits during severance? Anything else? Help the rest of us plan...
How many of you here at Cenovus are really just hoping you get a package? “Golden handcuffs” as some say. I know I am seriously looking outside. Maybe they should do a survey..
I heard there is big lay offs happening today??
Any thoughts on the new CEO?
Layoffs will continue into Q1 2018. Some groups will see more than others. Probably the biggest chunk from conventional being Calgary staff who aren’t moving to one of the acquiring companies. Anybody knows if this is just rumor or is there something... read more
Reductions are happening, albeit slowly.
What does your Q4 2017 and Q1 2018 drilling Program look like? Are you drilling very many wells?
Anything fishy going on?
Conventional will be partially culled early this week. Godspeed.
There will indeed be layoffs but not of the mass one or two day variety like we've see over the last three rounds. Probably after each respective deal closes will indicate the timing of it all. I believe you are right, . I think Cenovus... read more
Will there be layoffs? When?
Most of the field staff in CONG will go with the new acquiring companies but the office staff are all toast. Probably some of the new Conoco people will get turfed since they seem over staffed for their planned activity levels until 2019 and beyond... read more
Is Cenovus selling the Deep Basin assets that they purchased from ConocoPhillips? Are you getting ready to drill in Q4 and Q1?
So what's it like to work for Cenovus?
Heard through the grapevine the number is 700-800 consisting of almost all of conventional operations (hopefully including myself) in Calgary and field as well as some in Deep Basin, finance and other supporting roles.
will NOT bring the premium in this scenario to offset the metric paid, as timing (and competent leadership) is everything in this business. Also scary overhang re COP held shares, are there any strings attached we don't know of ? Pondering what would... read more
CVE led by Ferguson and his Team operated too much like PCP and CPR, much like ECA before Stuttle. Perhaps Hunter Harrison could help out because the current roster can't and railway mentality runs throughout this unprofitable org
How much drilling will Cenovus do at these prices?
What is going on with the stock price? How low will it go?