Cenovus Energy Layoffs

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Topics regarding layoffs at Cenovus Energy

Another round of leyoffs

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.

Stay away from Cenovus

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

More to come

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.

Never ending layoffs

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

Layoffs Dec and Jan

200-300 ppl in Dec along with some VPs/Directors. Another round in Jan. Soon we will have an entire building sitting empty.

Calgary Cenovus layoffs

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

Drilling Program

What does your Q4 2017 and Q1 2018 drilling Program look like? Are you drilling very many wells?

Mass layoffs over?

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, @OObL5ye-1rnu. I think Cenovus... read more

700-800 seems reasonable

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
by | Post ID: @OxKn7hh
920 views | no replies

Selling Assets

Is Cenovus selling the Deep Basin assets that they purchased from ConocoPhillips? Are you getting ready to drill in Q4 and Q1?

Layoff numbers?

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.

Asset sales in 2017

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

New CEO

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

Drilling

How much drilling will Cenovus do at these prices?

Stock price

What is going on with the stock price? How low will it go?
by | Post ID: @NSLiNcd
546 views | no replies

Divestitures

Company announced 45000bbls/d in divestments, where will the other 55000bbls/d come from? Any guesses?

Cenovus + Dark Ages

What is with the lack of technology at Cenovus? It's like the Dark Ages here. Also, what's with the leadership? It's the "fear" style over here. It's terrible. If you want to look good, give your teams the best chance at success. If your teams... read more
by | Post ID: @NHXjyBt
1213 views | 6 replies (last )

Destroyers of shareholder value

What is it with the incompetent leadership of this company? One poor decision after another has destroyed shareholder value as the leadership team celebrates this lousy Conoco deal.

Go

I had high hopes when the new VP Upstream came on board but he seems to be a blithering sycophantic idiot just like the other EVP's. The CEO needs to go as well for the simple reason he has failed to deliver on any promises since 2009 with the... read more

More Layoffs in 2017?

In order to pay the 40+ VPs and 100+ Directors/Managers CVE has, probably more layoff in the upcoming year?

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