I am horrified by the non-transparency of this company. Some say mostly Husky people are the target. How accurate is that? Some say the cuts are wide spread and some say they are not. As usual, no one seems to know what's really going on here... I'm still safe, but I'm looking forward to my package.
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HSE was a badly managed company with poor assets That is why they were forced into the merger in the first place. The HSE people left at CVE are the sycophants that kissed Husky mgmt's behinds.
That being said, the remaining CVE employees are also the same as above.
Now you have a merged company full of people that fail to execute on a daily basis.
If everybody stayed home, CVE free cash flow will still rise due to oil prices alone.
Obviously you haven’t read the IEA report. Wake up.
It's attrition. Most of the company portfolio and systems were HSE. Cve assets are okay at best but CND upstream is not super valuable in general. Really at the end of the day the company only has ~10 years left before the market is in major decline (save any major step change). HSE people may be leaving faster as they have more marketable skills with downstream and use of newer systems however everyone should consider moving to a new industry. Don't want to be 50 and only have O&G experience.