Take a pause and think about it. How many rounds and how many people? This is more of a rethorical question though.
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Oh the Conoco deal. What great memories. That will go down as one of the worst business deals in the history of the oil patch. And our management all for bonuses for it. I remember sitting in a townhall being told it was the best deal ever and it’s just that the market doesn’t understand it. I think they did and that’s why Brian and our CFO for shown the door.
No lay-offs in 2018?!!
I and several that I worked with were let go along with 700 others throughout the company in Feb 2018,
Since 2014 CVE had 10 layoffs. I recall that we used to have over 8 thousand emails, I was always curious how the company could operate having 4 thousand office people, 50 VPs and 3000 field people. I recall that in June 2014 management decided to expand the company and triple its size to become the second largest producer in Canada. They were planning to double my unit, even started posting jobs. In August 2014 oil price started the downhill journey and hard times began. People say that the first layoff occurred in 2014, although I do not recall. The massive one occurred in October 2015, about 900 people. Then they had in 2016, 2017. There were no layoffs in 2018-19, but many people left the company voluntarily. And many people came, hired as contractors and employees. So I think in 2022 they will bring more contractors to replace recycled employees.
And then there was DZ, who got rid of more than he needed to to show that he "has what it takes to make the hard decisions, actually bragged about it. Nothing but socio-paths, the whole lot of them.
And just think how proud the execs were when they brought across every single COP DB employee when they executed the most overpriced acquisition in the worst Canadian oil industry environment ever.