Thread regarding Cenovus Energy layoffs

No slackers left...really? I know of a couple of people that are peddling their MLM products actively on the side. One of them claims it's their "back-up plan" in case they are laid-off.

I would argue after 9 rounds of layoffs you are at a general level of performance parity. Not many slackers would have made it this far so that criteria should be met. There are pretty much few to no low performers left, unless of course you’re related to or dating someone in management then I could see that I suppose.

Well maybe if your best and brightest want to leave you should take a look at what you’re doing as a leadership team. Why are you driving them away?

Very true, volunteer layoffs are a usually only used if your talent pool is currently very high with some parity -which is rare. In the case of Shaw, since it was mentioned, they did have several issues with the main one being that there was a over use of it and they had to pull people back afterwards with increased compensation. From a corporate point a view it is usually better to control the process.

Voluntary layofffs/packages is the dumbest thing a company could do. Great for those that go voluntarily (usually the smartest and brightest), but what is left are not the smartest or brightest and would not be able to find a job anywhere else. it has been tried in the past (can't remember where) but it destroyed the company and the share holders get really $crewed.

The Smart Cenovus shareholder has left long ago as he/she knew their money would go to redundant execs to keep them around .. $500k here.. $500k there.

Don’t believe me? Check the share price again

Not a very entrepreneurial company.

Shareholder return will get worse as AP just decimated the culture and morale, while adding B-grade assets to the mix. People are livid at this company.

The cenovus shareholder wants saving as promised in the order of $1.2 billion dollars. You get that by going after higher compensation individuals like management. However we all know that won’t happen as they look after themselves here at cenovus. Just look at the SVP level and how those individuals are being kept around to assist in other areas. If Alex was serious the axe would have fallen on them first. I guarantee on Jan 6th we will see the same thing, a bloated VP level with no serious cuts, split up roles to justify more VPs, and probably a few promotions. I dare you to tell me I’m wrong.

The cenovus shareholder is applauding this. Its them that want the dead weight on this chat out of the organization. When you layoff 2000 people and shave out hundreds of millions of dollars they say its about time. Last checked the vote was a resounding yes.

Cenovus - training ground for new executives who line their pockets with shareholders money (in return for nothing) while name calling employees ‘man children’. Alex has all his friends and even his daughter working here now.

I’m female and you just excluded me with that name calling.

You know who the true victim is here?!?! The Cenovus shareholder!.. what misery and helplessness for them!

It is pretty stupid that they won’t take volunteer layoffs. If people don’t want to be here then let them go in peace. No hard feelings and leaves room for those that do want to stay. HR is so dense on this idea. Shaw did it and that worked fine.

Hey my three amigos, you guys must be short of cash so I’m going to give you half a million dollars each. Help pay some of the bills right?

But where will you get the money? I thought we were trying to reduce costs.

Oh don’t worry, I will just give the employees 80% bonuses and that should cover it. I mean I just need to find an extra $30M for all my management’s extra bonuses. If it doesn’t I will just lay a few more people off to cover it.

But is that fair and respectful?

Ha don’t worry about that they’re too stupid to figure it out as I put in the FAQs there were no retention bonuses.

That doesn’t seem very transparent though?

Well if they do find out I will just quietly change the FAQs, no one will notice. I mean what are they going to do about it anyways? I will just get my Communication team to troll them. Did you see how they fixed our ratings on the Glassdoor? I mean a year ago we were on the top 20 worst companies to work for. Fixed that one good.

That’s great thinking. I have a few special guys I would like taken care of, you know some chosen ones that could use a promotion out this merger.

Sure we can always use more VPs. I will slip those in later when no ones looking.

I find it interesting how it turns our management into greedy self serving losers. Let’s give ourselves retention bonuses and take more away from the employees.

Its interesting how hard times turns certain people into man-children. I'm learning so much about my fellow "professionals".

Did you fill talent profile?