Thread regarding Cenovus Energy layoffs

New Incentive Program

What do you guys think? A new carrot on the stick? The chance of us hitting $20 is extremely low. It costs CVE nothing to announce this incentive program. Maybe it will help Alex dump his personal investment in CVE?

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Post ID: @OP+XBfp7ye

23 replies (most recent on top)

I think mgmt should offer up volunteer packages. Maybe some of the unhappy people would take them up on it win win for everyone!!

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Post ID: @3bqv+XBfp7ye

Instead of complaining about the company, show them your value and that you can do better by going somewhere else. If you were valuable, the company will miss you trust me. It is not ideal anywhere right now but it is better.

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Post ID: @3ufn+XBfp7ye

If you all are that miserable and can't see how lucky you are to be at a company that wants their employees to own their success, is willing to compensate hard work, and is already giving you a paycheck every 2 weeks in a ressessed economy, go. Make yourselves happy. Life is short. Ask your leader how they can help you leave. Do it for yourself and all of the people at work that you are depleting with your lack of engagement.

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Post ID: @3qem+XBfp7ye

Again, here is your HR and mgmt calling names, insulting people, belittling them. Whatever you do don’t try and understand or get to the root cause of employee unhappiness. That might mean taking real action vs covering it over.

I appreciate Alex trying new things like this but it doesn’t address the underlying issues.

Please proceed to post your fake reviews in Glassdoor and your angry back and forth on here. You remind me of my kids bickering at the dinner table.

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Post ID: @2wwe+XBfp7ye

It’s awesome to see the Exec reading these posts!

Don’t worry people, there are some of us who do appreciate the incentive.

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Post ID: @2sio+XBfp7ye

I will take the bonus. If you don't want your salary as a bonus I'll take it. Pay you for it on odds. I'm pumped about it. 20 in 2017. I have no doudt we will get back there in five. Leave if you don't want it. I want it and I am going to work for it. Yea the leadership get more, pick a company that they don't. It's always been that way. Wake up, you are lucky to have a job and this opportunity.

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Post ID: @2zmw+XBfp7ye

CVE can't risk losing the people that inspire the common worker to give their best. Face it, they are the ones who built the morale of the company...

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Post ID: @1kli+XBfp7ye

The law of CVE: the rich get richer! The leaders of this company add so much value to our shareholders that they deserve to double or triple their salaries. Our commoners should be thankful for the leftovers.

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Post ID: @1kry+XBfp7ye

I don’t know why it’s important what extra padding senior leaders get, point is, it’s not going to happen!! It’s moot!

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Post ID: @1jhg+XBfp7ye

Directors and above will get 2x their salaries and EVPs will get 3x. Cuz you know they work so hard. And they make such good decisions. Which is why we’re rockin’. Totally justified. Just look at how hard they work. They’ve got 15 consultants telling them that the way to integrate value chain is to buy a refinery and get to tidewater. And it is a lot of hard work listening to 15 consultants telling you these mindblowing insights. Lot of work. They deserve 2x and 3x salaries. Don’t you think?

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Post ID: @1rrj+XBfp7ye

I’m hearing they get 2-3x salary..

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Post ID: @1xgo+XBfp7ye

Think about the money VPs and above have lost. Their PSUs are all wiped out and those were probably $100k or more gone. So I have no doubt this is as much to keep them with a little bit extra we’re not told about. Otherwise they’re losing way too much to want to stick around. Not that I would be sad to see any of them go but it’s interesting thinking about that end of it. They had way more PSUs then any of us serfs would see so they must be getting nervous about them jumping ship as well. I wish more of them would but hey, you can’t always get what you want.

If I was going to leave (trust me I’m looking) this wouldn’t keep me here. No sane person would bet on the desired outcome.

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Post ID: @1mne+XBfp7ye

Think about the money VPs and above have lost. Their PSUs are all wiped out and those were probably $100k or more gone. So I have no doubt this is as much to keep them with a little bit extra we’re not told about. Otherwise they’re losing way too much to want to stick around. Not that I would be sad to see any of them go but it’s interesting thinking about that end of it. They had way more PSUs then any of us serfs would see so they must be getting nervous about them jumping ship as well. I wish more of them would but hey, you can’t always get what you want.

If I was going to leave (trust me I’m looking) this wouldn’t keep me here. No sane person would bet on the desired outcome.

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Post ID: @1pfk+XBfp7ye

Good point on peer options.. and you know in a scenario where our stock doubles, our peers stock would have tripled or quadrupled in value ! Option at a peer are better

I also heard Principle & VP level above received announcement of something extra this afternoon as extra incentive..

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Post ID: @1fej+XBfp7ye

I now have 20/20 vision that I need to leave.

A friend of mine works at a peer and gets around 15,000 -20,000 stock options each year at a Manager level. Stock is up $10 so he is in the money $150,000 and $100,000 for the two good years after he started.. and counting....

He also has an office.

Still better to be at CNRL, IMO, SU, HSE, etc...

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Post ID: @1qgd+XBfp7ye

Call it the 20 and 20 lottery. Winning 6-49 is just as likely.

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Post ID: @1fjk+XBfp7ye

The only way we get up to $20 in 5 years is a prolonged war in the Middle East that drives oil back to $100 (provided we don’t have any stupid hedges on). Even then, we will likely have to contend with potential global recession. Very little us commoners can do to control the stock price.

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Post ID: @wwo+XBfp7ye

Anyone with a little bit of awareness will quickly realize that is not a carrot worth chasing because it ain’t gonna happen. Doesn’t cost them a thing to dangle a carrot, makes them look philanthropic while they pocket their big bonuses. 88% of a big number is still a big number.

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Post ID: @zvk+XBfp7ye

You people do understand how progressive taxation work right?

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Post ID: @amy+XBfp7ye

No stock options for us commoners.

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Post ID: @phl+XBfp7ye

Even if this incentive pays out a large minority of it will go directly to the tax man. Should have gone with stock options.

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Post ID: @dap+XBfp7ye

Good incentive program for the SVPs VPs Directors! Options in the money, PSUs in the money, and double the salaries!!

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Post ID: @hzo+XBfp7ye

They’re throwing a carrot at people that they know they will never have to pay out. Trying to make people ignore the sh--e bonuses and lost PSUs. The score card was bad due to mgmt incompetence: bad leases, bad hedging, etc.

It’s a promise that costs them nothing to make and the naive will hold on to.

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Post ID: @btm+XBfp7ye

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