I don't work for either company but know people at both. Sounds like CVE didn't get hit hard at all and Husky took the brunt of it. One CVE person said no one in his group (aboriginal affairs) was let go but 4 from Husky side were gone. CVE Land sounds like they only lost a couple but not sure of how many from Husky. It doesn't appear the layoffs were 20% from each at all. Nor does it seem 2000 were let go. Guess they're waiting for a few more rounds.
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Remember this people, this was not a merger as management would like you to believe. This was a Cenovus takeover. Get rid of Husky personnel in favour of Cenovus workers...wish you all the best.
Wait until they start selling off the junk Husky assets where 90% of Husky folks reside. Should be a fun ride.
The integration of groups is designed to share knowledge 'organically'. This means someone is learning your job to take it, don't be naive. This is knowledge sharing to prepare for the next round, which will be the actual deep cuts, this round was just a shave off the top and mostly token people to show some progress to the shareholders. Take a watch of the recent townhalls since the layoffs if you want the story of your lives for the next several months. And to Husky folk still there, Cenovus management drives their teams to be cut throat and competitive while regularly threatening their reports and flattering their leads. That culture has not changed or improved in the last 10 years and it won't with this integration either. Good luck, keep up the mental fortitude, you'll need it.
Thats why husky was sold for parts... the people working there are dumb enough to expect a 50/50 TAKEOVER
Of course it wasn’t equal. Cenovus has less than two thousand people Husky has 6,000. Do the math. To cut 2,000 people it would mostly have to come from Husky. That’s a pretty easy concept.
I was with Renaissance as part of that merger. I bailed on husky first chance I had for a new job, as the culture was 'different', nothing against husky but that's not who hired on with. Never felt comfortable or secure there, it was a sweat shop toxic culture from what I remember.
I can remember when Husky "merged" with Renaissance in the early 2000's. Very few Renaissance people stuck around. They knew how these things play out.
omg, were all the Husky people that naïve they thought it would be fair in a takeover? lol
If they are it was good choice to remove them as you would want to keep people less naïve
Integrating companies of this size will take months. I am surprised they have done as many as they have so quickly. Some things can't just be dropped without impacting the company. It is going to take time for CVE employees to take over the Husky roles, which they will do eventually.
There will be endless rounds of layoffs throughout 2021 until they hit their targeted synergy numbers. You can be sure that the senior executives want their bonuses next year so they will that target.
Really, you expect tp be equal ????
Yes, that's what happens when one company (CVE) buys another (HSE).