Thread regarding Cenovus Energy layoffs

Ya whatever @1aot+19XXqSx4..........

wow!

Blah blah blah, if you don’t move the share price to the upside no matter your role you don’t matter. So, did you move the share price on your last project or your accumulated projects? Think about it. Probably not, the share price moves with the price of oil only, supply vs demand. So just work and put in the effort for the kinda bonus you want. Just collect the pay checks. AP and his top cronies are moving the stock price. And they GET paid to do so.

This whole thing is so incredibly sad, really is......there could have been a better way - especially during a pandemic. Cutting thousands....synergies.......make that 1.2 bil target , its all so really hard to take and lots of people are at their lowest morale levels I have ever seen in my decades of being in the industry.

I really hope through all of this, everyone can just take a step back - regroup and heal - from all sides. Sorry for sounding like a preacher, not the intent, just seeing this from another perspective is all.

Higher WTI price sparred a lot of people. We need to continue doing what we suppose to do. Lots of people unemployed . Not easy to get good jobs in Calgary. I don’t think these layoffs were done though. Expect more this year.

"Agreed. I think WTI may go to $90-$100 and jobs will come back overnight .. then Cenovus will lose all their people suddenly overnight and be stuck! "

How in the world is WTI going to return to $90-100, you are very optimistic. Our politicians seem bent on building back better, and that does not include this industry, at least not in this decade.

Transportation and industy is going to run on pixie dust and unicorn f4rt$ in the future, and when we run out of that we can return to oil. I truly feel sorry for any new grads, 4 years ago this may have looked like a good choice, not so much now.

"Global movement that is working to completely k–l this industry"

They have all but k–led the Canadian energy industry. Other producing countries that don't have a virtue signalling imbecile as a leader are chugging along. Also doesn't help that we have a narrow minded ideologue high school dropout as Premier whose singular focus seems to be enriching his friends and corporate masters. He doesn't care about us either. I agree with the post below about relocation if you want to work in energy.

It’s tough but there are songs of life. I just interviewed for a management post very recently. Slowly the opportunities are coming. When they do it will be abandon ship. My main incentive is to get away from this management team who are all useless as individuals and a collection.

Many of you must be young. You don’t know how quickly this industry goes from bust to boom and the bust. I agree with him as jobs could come roaring back overnight in this industry with increased activity and capital spending.

The worst position to be in when that happens is in a company where everyone has one foot out the door. We will lose a lot of people when jobs come back.. and talk to your peers, the place has a bad wrap for laying people off.. so no one will want to come over here to replace those departures.

Yeah, and I might grow feathers and learn how to fly. Oil isn't roaring back any time soon, you need to crawl out from under your covid rock and see the global movement that is working to completely k–l this industry, heck even the Sacquatch is working against us. If you can move you should take the opportunity, otherwise milk this cow for all she's worth before she dries up.

No offence but bolt to where exactly? Seeing the delusional/arrogant people out there who think they are some hot commodity and will be snapped up in the open market just makes my head shake. It's incredibly dire out there but best of luck.

How on earth did you manage to type all of that while patting yourself on the back???

Amen

Agreed. I think WTI may go to $90-$100 and jobs will come back overnight .. then Cenovus will lose all their people suddenly overnight and be stuck!