Cenovus received Covid funds from the government? Then immediately laid off staff "due to the pandemic", instituted share buybacks, and the C-suite received "pandemic bonuses" near or over a million dollars? Now Cenovus is quietly crying about a tax on share buybacks. Someone think of our corporation and the rich! F these guys.
7 replies (most recent on top)
Lowest performing stock in its class. Useless management and executives. They have to pay more tax and need more government funding to capture carbon??? Sold their weyburn C02 sequestration asset??? Boo hoo. Just feel bad for the workers. The only good thing about that wretched place are the workers.
More taxes for Cenovus. Yes!
Go on! Don't leave us hanging about how corporations operate.
It’s too bad that people would whine and complain rather then understand how corporations work.
Defend the timing of the share buybacks and ludicrous bonuses paid out to the CLT. None of the CLT deserved any of it. They all have in-house help, nannies, housewives, the technology was couriered to their residences and set-up for them. None of the executives were quitting due to Covid. It was all a giant scam/grift. Admit it.
And don't parrot out the usual corporate bootlicker talking points: "It is just good business", "They are the leaders and need to be rewarded", "Executive retention", "It is what it is"
2% tax. Who cares. Let’s just lay off some more people to offset the new tax. -CLT
They only received the funding for a limited period when there was real concern of the company survival due to the crash in oil prices. (Remember when they were negative for a brief period.) The funding was small in comparison to the actual salaries. There were not general pandemic layoffs. The layoffs were as a direct result of the merger with Husky - that is when the behavior became rotten. The tax on share buybacks is a money grab by the government and for political optics.