The long awaited layoffs in downstream will take place the week of April 7 - 11. Focus will be on Calgary. 1 in 6 positions redundant on new organization chart. Some of those who remain will be asked either to move to various refineries or... — read more 

After seeing how Cenovus handles older employees, why would anyone over 50 bother going above and beyond? When your fate depends on payroll numbers, not performance, why ki-l yourself? At this point, doing the bare minimum isn’t laziness, it’s... — read more 

I keep hearing about layoffs all the time. Every week, somebody else seems to be gone. I've been here for 12 years. I'm 48. At this point in my career, I expected more stability. Is that too much to ask for?

Oil just hit a 4-year low, Cenovus and other producers are cutting deep in Alberta, and now Ontario’s losing 6,000 auto jobs thanks to Stellantis halting production. For once, it’s not just Alberta taking the hit, Ontario’s getting dragged into the... — read more 

2024 was a great year for CVE. Stock price dropped 16% versus year-end 2023. JM total compensation went from $8.7M to $10.4M, an increase of 20%. DZ made $3.1M for "working" eight months. Great value, the shareholders must be pleased. Check out the... — read more 

With the Veren deal moving ahead and layoffs at Cenovus still rolling, there’s going to be a lot of people on the street soon. Not sure who's supposed to make up that large shortfall? Maybe Elon wants to start an oil company.....

Stock flat, morale low, more questions than answers. Feels like something’s missing in the bigger picture. The market obviously wants targets to be hit, but what else?

I do truly feel the company needs a reset to focus on base business. Culture needs to stop where ladder climbing is promoted. We are here to make oil, gas and refined products. Supporting functions should be lean and follow the rest of industry... — read more 

How many managers and directors were laid off today? What's going on in Conventional? To be continued....

We have been having these silent layoffs now. Any updates on the actual round?

Rumour has it , some ppl will be let go today. My guess is conventional and IT …. Let’s see our pretty boy RC and BK and some others will be gone today or not. It’s time to let the clowns go…. Come on CVE. Keep the good ppl but let them clown go. — read more 

Heard a few folks getting notifications for this week. Wondering which groups were affected? Seems like the approach is to let go

https://simplywall.st/community/narratives/ca/energy/tsx-cve/cenovus-energy-shares/cenovus-energy-inc-tsxcve-has-successfully-completed-its-acquisition-of-gear-energy-ltd-tsxgxe

It took me over a year—an endless stream of resumes, reaching out to everyone I know, utilizing every network possible. There were many moments when I almost lost my mind and considered giving up. The new position is in a tangential industry—less... — read more 

It has nothing to do with productivity or efficiency, but everything to do with getting rid of people for free. This has been the case with every other company that implemented a full RTO mandate, and it will be the case here too. We shouldn’t bicker... — read more 

the reason? to streamline work and become more efficient as we progress our priorities and improve our competitiveness. pi-s off.

Three contract staff in my department were shown the door this AM !!

The annual meeting will be held virtually on May 8, 2025. Big announcements in the weeks prior. Workforce Reduction. Acquisition or Divestiture. Dividends.

Merger talks continue … .. . https://apps.rec-cer.gc.ca/REGDOCS/Item/View/4444627 https://apps.rec-cer.gc.ca/REGDOCS/Item/View/4444601

A lot of rumors are floating around. It doesn’t seem unlikely.

Many of us are going to be let go this next round including people who care deeply, work hard, and need their job to get by. I am one of these, I love this business and the people in it, and I will more than likely be let go. All I can suggest is... — read more 

Do the trashy managers in deep basin and the trashier girls they hired will be fired this time ? They well enjoyed themselves using company’s money and managed to take advantage of their power and status… time for them to leave eh ?

Despite all the budget cuts cenovus still has enough money to fund leadership summit in kananaskis? Why not do it in bow tower that is always vacant. Any layoffs news coming after this very productive leadership summit ?

My guess is Cenovus will spin off US downstream assets, work is already under way to make US refineries independent of Canadian crude. Accountant McKenzie will announce that this is done to maximize shareholders value, brace to massive layoffs in... — read more 

VP, Corporate Controller and VP, Internal Audit will be forced to "retire" at the end of the month.

Any other companies idling downstream assets in full or in part until the economics are more favorable (not losing tens of millions monthly)?

It seems the T³ will come into effect March 4, 2025. We don't expect that the tariffs on Canada's most important export Oil and Gas will last for long. The tariffs on the other sectors in Canada WILL remain. We have a strong Premier here in Alberta... — read more 

With the changes to BCLCFS legislation, it might be the right time to sell MEP.

So in the next 2 weeks, relative to just Upstream: CVE is losing its: COO, EVP Upstream, SVP Upstream. This list doesn’t include the massacre coming in Downstream. Upstream is the only thing keeping this company afloat, yet key figures are bailing... — read more 

It’s Wednesday everyone. The week before President Musk’s err Trump tariffs come into place. Any ideas about job cuts today or tomorrow. We will have to see how the activity is in downtown Calgary today.

Train ride home I hear different people saying cenovus selling assets in US, and this is fix to stock price and tariff problem. Also if keystone reopen they don’t need it.

Taco Tuesday … the silent ki-led. Five employees on my floor.

How much longer before the board walks Jon down the plank? This is rediculous, another bad quarter....how many is that now? Why let this guy destroy the company?

I have heard many rumors that layoffs are coming after LTI and bonus payout this week. layoffs will mostly target low performers and employees who have not been regularly in office 4 days a week. Can anyone confirm?

Anyone else sick of the only people getting LTIs worth anything are the engineers and the mgmt? Over the past 3-4 years my LTIs have been reduced each year. I thought ok, maybe it’s me, but I’ve spoken to other staff that I know and they’re seeing... — read more 

Any updates ??

15-20%

So what’s the word on bonuses? Rumor has it that most will get nada. Also heard that the company stance on long term employees is to get rid of them as they just cost you more money.