The anxiety and fear of layoffs is astronomical. Despite everyone convincing me that this is not the end of the world and that there is life beyond Cenovus, I cannot relax. I don’t know anyone who has experienced a debacle and failed to cope after being axed here, but still, I fail to take a positive stance. It is my fault that I did not look for a job elsewhere more actively.
23 replies (most recent on top)
For the person who asked about the company splitting severance out over two years, I know CVE has done this in the past because when my spouse was cut they allowed her to spread it over two years. (Although she did it to lower child support for our 2; morso than tax reasons)
Post ID: @2xme+19xXTbXq
Good suggestion. I don't know about Cenovus but Husky already said no. Either way it does not hurt asking Husky again despite saying no in the past. It also does not hurt asking Cenovus. Worse is they will say no but at least you tried.
Tip for anyone getting a severance payout, unless you want to donate a good chunk of it to our eastern friend T–do and his band of thieves. Ask yourself how soon you think you will be working again (or are you pulling the pin on this nonsense?) and what your future income stream will look like.
You can ask CVE to withhold the amount in excess of your typical years salary, so you can differ some of the payout (and Tax!) into the next year so you are not paying so much in the higher tax bracket. Ask CVE to do whatever makes the most tax sense for you, the worst they can say is no.
I joined the club on Mar 26th. Only advice I can give is not to take it personally. Those doing the layoffs, at least at my level (CVE Operator) have no idea who you are, they are throwing darts at an Org Chart. All of the work you did on your Talent Profile in November, your current or past high rating on Performance Agreements and all of the initiative you might have taken to be a top performer mean nothing. Sad to say... for all of the high priced HR programs and officials making policies in this company, the final choosing of the team is no more sophisticated than an elementary school playground group trying to pick a road hockey team. They picked their friends and neighbours, so dont take it personally when the axe falls. After one month, it still stings a bit, but a new chapter awaits. Take advantage of the outplacement agency that Cenovus offers.
Pension and Benefits ceased January 26th.
Maybe a bit off topic for the opening thread comment, but can any legacy CVE folks over the age of 55 who were laid off comment on the time frame of extension of health benefits and pension contributions? If pension contributions were not extended through to retirement age, how did they handle the pension close-out?
I'm not worried. Hope the UBI will kick in soon
I am a former nexen person and I can relate to the anxiety you cenovus/husky folks are feeling. It was unbearable when I was at the last place and the endless layoffs were going on. I was eventually let go like most people. In retrospect I regret worrying so much and being stressed. When it finally happened it was a freeing experience. I know my advice probably doesn't help when your in the middle of it but it does get a lot better when its over. Its a big world out there and not spending energy stressing about being cut is amazing. My spouse was so happy when it finally happened! The vast majority of people I worked with ended up with good jobs within 3 months albeit not in oil and gas. You would be surprised to see how many ended up in tech, agricultural and mining. Hang in there and look forward to the next thing.
@1wcj+19xXTbXq lawyer troll strikes again
If you are feeling depressed and overwhelmed by the constant layoffs or threats of same you should contact someone on the board of directors from Cenovus and tell them about it.
Canadian corporate laws and case laws state that board directors may be held personally liable for their actions of poor decision-making as well as for their unwillingness to act in circumstances where they needed to act. This is because a breach of fiduciary and statutory duties is illegal.
Corporate boards in Canada have a fiduciary duty to ensure that their employees and retirees are healthy and that the proper occupational health and safety measure are being followed in the workplace. If you have layoffs every Tuesday for 5 years ongoing, clearly the directors are breaching their fiduciary duties.
Corporate Boards are rarely litigated in Canada, but this needs to change. See a Lawyer for free 30 minute consultation and go after the Board. You will be pleasantly surprised at the outcome
If you're in debt beyond belief you won't be feeling stress or anxiety... you're not plugged in to begin with
This is for the person who originally posted this thread:
I received "the call" on January 26th. As a long term Legacy Husky employee I was a bit surprised because I felt I was making a contribution. Apparently my Director felt otherwise.
A month later I am happy. Husky treated me fairly (severance is on Husky letterhead) and I'm happy not to be moving over to Brookfield Place. Still awaiting courier of my personal effects but the future looks bright. I have an introduction to positions at Suncor and great outplacement with LHH.
Sleep well.
I sure as hell didn't get no $390K.
I ain't got no dog. I sit around drinking whiskey and smoking weed in my underwear. Order take-out from Skip-the-Dishes.
Still glad to be out.
I was Legacy Husky. Sr. Manager. 20 years ~ 20 months.
And to think some of my colleagues elected to take a demotion.
Post ID: @1qwg+19xXTbXq:
Whao, $390,000 in payout! That is a lot of money.
Do you mind if I ask how many months of your basis salary is that equal to? Just the basic salary.
Move to the GTA. There are SO many jobs there.
It has been four weeks since my termination. I'm taking my children to school in the morning. I'm going for a walk in afternoon with my dogs. Preparing more nutritious meals for my family. My blood pressure is lower. Thank you Cenovus.
Lost my job on January 26th. Received $390,000 in payout for 20 years.
Asked my manager and director for a package and didn’t fill out the HR talent profile a - of course I made it through the first round. They’re gonna wait me out to quit on my own - ain’t gonna happen.
6 days until March!!
I’m sorry you’re feeling like this. I don’t think you’re alone and unfortunately HR is totally tone deaf and almost sing song positive, like offensively delusionally happy.
I guess the only thing I would say is to really look at what you’re afraid about in the eye, and write out and acknowledge what the absolute worst thing is that could happen with you getting laid off, then make a plan for that. It’s probably not as bad as you feel like but it’s the uncertainty that hovers likes rain cloud every day. And lean on your friends. Take breaks. Get exercise. All that jazz. Hang in there. It s—s and it’s ok to feel like it s—s.
This sounds like an HR teaching moment/ troll.
I hope you all saved your pennies in the good years!! If you have a mortgage and car payment etc etc EI won't cover your expenses and unfortunately there aren't any jobs out there right now.. A bleak future for many.. Good luck to all