When I hired on to Suncor, HR had very strict policies regarding vacation and benefits. Times were lean so I accepted their low-ball offer on the basis of earning $50K in RSUs every year. Well guess what? Kruger’s ‘Workforce Reduction’ ended that dream. Let this be a lesson to anyone sometime in the future considering joining Suncor. The place is bureaucratic. Management is old-school. Pay is low. Bonuses (if any) are poor. Layoffs occur every three years or so. Do not bank on RSUs. They vanish the moment you are terminated.
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Fully trained by the company, continuous upgrading, high performer for years. Earned my raises...Could have moved me into a different department to take over embedded contractors with less experience and less seniority... just saying
Are they actually getting rid of whole departments ….. which ones? I heard that They let a bunch of people go in Supply Chain but then are outsourcing those roles, wonder how that is cost cutting, everyone knows how consultants roll, they don’t end up cheaper in the long run.
Name a department that has been eliminated in its entirety?
RSU’s are a retention tool. You are awarded them based on performance and/or salary band. Vesting process is 3 years. Should you seperate (voluntary or involuntary) before vesting, you lose them. Pretty standard terms and conditions. This is not your typical layoff. Departments are being eliminated in their entirety. It is less about pure cost-cutting, than right sizing the business.
Layoffs were not based on experience level or talent, they were based on popularity. Suncor has long been known as a ‘its who you know not what you know’ especially with regards to promotions and RSU’s and who gets them. Same goes for layoffs!
The last 5 years employee survey showed favoritism as one of the biggest problems and it’s still continuing.
@1gdf+1olu37au is not correct. Deadwood exists at all levels. The rot will remain if Directors and General Managers with extensive years of service are allowed to make the decisions. They will isolate themselves by sacrificing one or two members of their team. There are numerous examples of this so far. Take a look on LinkedIn of those who have been terminated —> no one with more than 15 years of service with Suncor / Petro-Canada.
You have to be on payroll when RSU’s vest or you lose them. they don’t include them in severance , You also lose your bonus if terminated.
Do not be so spoiled. RSUs are not your right to have. It is based on the company's performance. The problem with Suncor is that they hired people like you to contribute to the success of the company. Th new president will clean the house and get ride of the deadwoods.
Nope … written right into the contract wording. If you quit or are terminated, they vanish.
what do you mean they vanish they should pay it at termination???
@1bvn+1olu37au is 100% correct. I have worked for several majors over my career. Never seen so much bureaucracy. My GM & Director create documents for sake of documents. Or PowerPoint presentations. My whole department should be eliminated as part of Workforce Reduction in R&L.
Suncor lost its “flagship” place. Very unstable place. Bunch of people in management just nodding their heads and pretend doing work, unfortunately it’s becoming more and more toxic. I know one person, completely inexperienced but can play golf well. He’s been at Suncor for 5 years. But another person, very experienced, was let go. HR is horrible, they don’t watch who gets hired. I know one girl, very beautiful, but has no experience, got hired by male manager, who basically “drooled” at interview looking at her. We don’t know what they do in one to one meetings.
Level 15
$150 K
$50k in RSU’s .. low ball? What’s your base?