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Topics regarding layoffs at Cenovus Energy
The assets are good and the CEO has shown an ability to generate excellent free cash flow from those assets. Reallly good free cash flow. Just look at last quarter. Makes one wonder if the call for cuts is because he knows CVE has a great future once... read more
Bet Husky wants the advantage for their recent offer.
Q3 earnings call indicated production is being cut back. Other companies are too, but the CEO mentioned it only takes a relatively small volume of production to exceed the takeaway capacity and that drives the wide discount. Wonder if the integrateds... read more
https://www.cbc.ca/news/business/cenovus-oilsands-cuts-1.4903385 One of the country's largest oilsands players, Cenovus Energy, is urging the Alberta government to implement "temporary" production cuts across the oil sector as Canadian crude prices... read more
KXL pipeline now on hold, oil price collapsing. This oil patch just can’t get a break. We’ve been hanging on with a thread now what? Layoffs soon?
“We are going to do our part but we are not going to carry the industry on our back,” Cenovus president and CEO Alex Pourbaix said on the company’s earnings call, adding that other oilsands producers would also need to reduce output. Given CVE's... read more
Senior management is really "knocking it out of the park" at CVE! Big Q3 loss is likely due to increased 2018 bonus accruals.
Stay tuned ex COP. Clearwater is sold and you will all here something soon. Be prepared to bite down, This ones going to hurt. Most of you will be gone. A few will stay on. Best O luck
Too many jobs opening up in Calgary and people are leaving or planning to leave in the new year. Such bad management at the top. They came in too arrogant and made changes to people benefits too quickly. Let the Cenovus brain drain begin..
Good combination; CVE has oil for Husky refineries.
with spreads so wide?
What’s going on with Deep Basin? Awkwardly quiet...
Finally a sensible move, and not a moment too soon. Guess our management came to their senses, and realised that anything is better than whining about pipelines being full to capacity, while laying off workers and cutting contractors. It doesn't take... read more
Here's why I have lost a lot of confidence in our new CEO: 1) He has not made significant and meaningful changes at the top, such as removing the significant incompetence of EVP's such as DZ and HC, as well as the VP's associated with the COP... read more
Fixing the mess for shareholders. Everything done before him is sunk cost. Now it's about reducing debt and operating to maximize cash for shareholders. Rather than complaining, go find a different job and improve your situation.
That was brutal. That’s all I can say.
What are the ex-conoco staff like to work with at cenovus?
230 layoffs for them what will the number be for Cenovus? Good luck x COP staff.
Just heard from an official source. Mgmt is working on a big layoff round for the fall (before bonus time of course to save money)
Kaybob and West Clearwater although I suspect anything in Deep Basin is on the table. East Clearwater apparently has no decent offers. Probably have to sell the whole junk pile to get the debt under control.
This ship just keeps on tanking! The person who was responsible of the COP deal got a big promotion to the CLT when the new CEO came in. Those who spoke against the deal all got packaged out. What an amazing company!!
What exactly are you trying to hide by deleting recent posts ? Is this an indication that you know what you did was wrong ?
$150 in 9 months. Mark my words. Money will flow.
Why is Cenovus looking for a Communication Advisor on Indeed. All the people around there and you still need to look for more?
Been too quiet lately...
And now the improvement begins!
Perhaps we should start a pool? When will it be sold and to who? And go...
Conoco is just kicking cenovus when they are down now. Maybe Conoco buys Cenovus in hostile takeover?
New rumor that CVE is considering partnering in to the kindermorgan transmountain pipeline?? ARE YOU KIDDING ME!!??
We are coming off the bottm.
Appeared CVE laid off some more staffs today mostly technical people and as usual, upper management stayed behind to collect fat salaries and bonuses without doing any real meaningful works to get this once great company around. Need to revert the... read more
Another great Q for the CVE management team. -6% and market is not even open. Oil goes up, CVE goes down. Congratulations.
So when are they going to announce it? Looks like CN is preparing themselves for something big. Take a look at their career section of their webpage and take a look at the HR staff-up...
I heard there is another layoff in the near future. Could be as much as 50% if staff.
Is anything ever going to get sold? Clearwater is waiting.....and waiting....... and waiting
You guys are unbelievable! Stomping your feet and name calling. Throwing people under the bus and insisting that the company wouldn't be here if it weren't for YOU being there as an employee!? My ... you really like yourselves don't you? It's... read more
Hey everybody, post something positive about the company to move things in a good direction. Okay?