Thread regarding Suncor Energy Inc. layoffs

Mike here. I have worked with the company from back in Petro-Canada days. Under Little the company got off-track. But we are back baby. There are rumours BP could be a takeover candidate due to their focus on energy transition. Thank goodness Kruger does not believe in it. He took the helm just in time !!!

@3e8+1jk8g8fbs

Suncor is not a top Alberta employer anymore ever since 2022. Freddy was there in 2023, and ever since for 2023, 2024, 2025 Suncor lost its place on the list. That of course is “winning” to Freddy.

https://www.canadastop100.com/alberta/

@2ws+1jk8g8fbs Who are you man who is so proud of the work Freddy did? Sitting in your mega mansion in Florida activist investing in Suncor and cutting up people’s livelihoods, pathway agreements, and emission reduction projects because you need an extra couple bucks to pay for your rising cost of hurricane flood insurance? Or are you clearly d-mb who doesn’t care about their fellow Canadians? Also as per those returns, you need to ask yourself one KEY question. At WHAT cost was made to achieve the stock buybacks that have gone on to increase the stock price and Freddy’s bonus? Let me tell you… more bankruptcies in Fort McMurray local businesses, another 50 k in value of ALL Fort McMurray residents houses. People’s careers ruined mid-career. A whole wave of people left Fort Mac because of Freddy. Lost jobs of Fort McMurray residents who worked through fires, floods, COVID, and sacrificed their lives for their pension plans. All for Freddy to sweep it all away? Only to see that literally almost all those jobs in Fort McMurray were actually necessary? When people lose their job in Fort McMurray there is no place to go but sell your property and get out as the sites are Suncor and Suncor( other one used to be Syncrude but not anymore), stress out the workers who are still around to keep up? So they can be “winning”!? Only to see these jobs were really needed to be rehired and the exact positions reopened back up? To lose all that on site experience when in reality it was actually needed for the company? Removing Canadians jobs beyond hard limits of what is safe to operate the company? When the company already had on site figured out who is needed? When the company wasn’t even nearly going anywhere near bankrupt? Not saying Suncor was perfect or couldn’t have had some other improvements but it is awful what he did. Anyways the money was stolen from Fort McMurray residents for his bonus and for the stock price that Elliot Activist Investors commanded. Most people left are not happy about it.

Again as for the stock returns, the majority of that money is stolen from Canadians. Some hedge funds sold a little CNQ and Cenovus for Suncor, but it wasn’t actually that much. The majority of ETFs still have their % allocation more allocated to CNQ… as in nobody cares about his sh-t show! Why does he have the name Freddy? Because he’s a pure horror show, and the name is fitting, that’s why.

I agree with the previous post about whoever is posting below, he’s either a Freddy insider or got Stockholm syndrome. He clearly doesn’t work on site, live in Fort McMurray, or know or understand the impacts of the Freddy horror show. Or he has no compassion or empathy for his fellow Canadians.

I also totally agree with @1x9+1jk8g8fbs

His quote and I 100% agree.

“ It’s taking from the folks that kept the company going through fires, floods, Covid, etc… People who left their homes and families to move far north because the agreement was they’d be well compensated into their retirement, not let go when they hit middle age “

0 respect for Freddy. He is a thief, a horror show, and offers no benefit to any of us Canadians. I hope all Suncor workers understand this, and here’s hoping for better brighter days ahead for Suncor now in its darkest moments. Hopefully Freddy and the activist investors hit their price target of what $60.00? It’s probably in the $60.00s somewhere So they can sell and get Freddy the he-l out and he can go back to his mansion and sit at his pool in Houston.

Mike E. below is either an insider on Freddy Kruger's team or has a serious case of Stockholm syndrome

https://www.canadastop100.com/alberta/

Quit your bellyaching @2ag+1jk8g8fbs …

Over the past year Suncor stock is up 24.3% !!!

Imperial oil up 19.5%
CNRL is down 4.5%
Cenovus is down 12.6%

So proud of the work Kruger is doing to turn this company around.

@1yg+1jk8g8fbs Freddy is a 100% total trash CEO man. He’s a garbage CEO worthless, and not worth being the highest paid Suncor has had. He’s an outsider, not from Suncor, not even Canadian. If you really dig into what he did to Suncor it’s basically nothing but just cuts and slashes. Not an ounce of rocket science applied. He copied and pasted a similar org structure from Exxon. If you dig into who this benefits, it doesn’t benefit anybody, especially not Fort McMurray, Calgarians, Canadians or any Albertans. The only “people” who benefit are his own bonus and the Elliot Activist Investors. Suncor stock isn’t even beating the S&P 500. So all that for what? They hijacked the company for mediocre gains and some horrible pain.

I imagine with the situation going on right now with Trump, Americans may get more opportunities to exploit weaknesses from Canadian Energy companies just as Elliot Activist Investors is attempting to exploit Suncor which was considered a lagging stock amongst it’s peers.

We listened to Pierre Polievere (PP) speech on the weekend. We need a leader who will standup for Alberta and who does not believe climate change is real for the future of our province. The trump tariffs will have the largest impact on Alberta more so then the rest of Canada.

What is our provincial opposition party or federal parties like the NDP, Green or Liberal doing? The future of Alberta is being affected. Alberta is oil and gas!!

We need to promote our economy and products and stop the production and promotion of EV vehicles. These should have a 100% levy. We need to stop with the use of heat pumps and promote the use of oil and natural gas to heat homes.
We must use natural gas stoves not electric stoves when cooking, and yes even natural gas clothes dryers.

We should all be concerned as the prosperity of our province is here. Any impacts on the environment will take care of its self. The environment will always adjust accordingly so we should not worry. Oil, gas and other resources are gifts from the almighty why shouldn’t we be able to use it? Why should we cut our use of natural resources before others like the Saudi Arab (they are home to Os--a Bin Ladan family), we are a peaceful country and province why attack us?

Alberta future and our jobs are on the line. What is being done ?

Oh come on there @1x9+1jk8g8fbs … Freddie is getting high fives from the investment community … you and your Ft Mac friends were just worker bees. Maybe if you had worked harder, you too could have been a CEO.

Responsible fossil fuel use is the key… capturing emissions… investing in a realistic economy where fossil fuels are here to stay. Pretending climate change doesn’t exist isn’t the answer. Pretending tariffs isn’t anything more than taxing the people and driving up costs, especially on cars is nuts. And… pretending it’s a profit when it’s laying off employees with years of experience and decent salaries who contribute to the communities and then bringing contracted new hires at a lower cost is odd.

It’s taking from the folks that kept the company going through fires, floods, Covid, etc… People who left their homes and families to move far north because the agreement was they’d be well compensated into their retirement, not let go when they hit middle age.

I heard Alberta will be spared most of the hit as the USA relays on our oil, gas and other non renewable resources. From my understanding with discussions from those following economics Ontario, Quebec and eastern Canada will feel thr pinch.

The automotive sector, manufacturing, steel and mining of steel and aluminum in northern Ontario will be hit hard. Exports of other resources from Quebec and Atlantic Canada will be hit very hard. The impact to Alberta will be minimal at best. The crazy over inflated house prices in southern Ontario are deflating. People are starting to walk away from large mortgages (people who purchased recently). People in the Toronto area are really stressed out. They have a premier who is more concerned with calling an early election than running the province.

No matter what the impact of Mr. Trump tariffs will be felt. We need to boycott Tesla cars (not allow them to park in any lots). Expect the economy to get really bad.

I read a report that Trump tariffs on energy could have devastating impacts on Calgary. Overall out of all cities in Canada, Calgary could be #2 most impacted city. It makes sense that Calgary jobs are most at risk, the white collar engineers, technical people, projects, HR groups. Lots of those jobs in the Calgary downtown area. Edmonton and the rest of Alberta with the blue collar jobs where the sites are would be less affected like extraction areas, upgraders, refineries, pipelines, and chemical plants.

We need to ensure our lord and saviour Pierre Polievere is elected. For the future of Alberta we need to ensure we elect a government that understands that climate change is not real. The future of Alberta is at stake. We need to ensure we do everything possible to to ensure no tariffs are on Alberta resources.

Seriously wake up. Alberta only elects MPs from the Conservative Party federally for a reason. It’s the only party that has the real interest of our province at heart. Do you seriously think Carbon/Freeland or Carbon/Carney can actually do something for Alberta? Think again. Just watch when another election is called - we will elect only conservative MPs and that’s a fact. To qoute Stephen Harper only a “Strong Stable Conservative Majority Government” can actually do something not only for Alberta but Canada.

The same applies provincially. We only elects conservative for a reason. It’s the only party that can lead us provincially.

Alberta will be well positioned in tariffs. I don’t think Mr. Trump will hit Alberta oil and gas as much as the manufacturing and automotive in Ontario and Quebec. Alberta is the engine that drives the economy. We will see little if any job cuts.

Ms. Smith and PP are working hard to ensure the effects of any tariff or Trump policy has minimal effect on the Alberta economy. The same cannot be said said of the Liberal or the NDP. That being said we need to ensure we have a strong majority government in Edmonton and Ottawa to deal with this mess.

From my perspective there would be very few job cuts or losses in Alberta. Some companies margins might be slightly affected. I believe it would be more or less business as usual, I don’t think there would be the same pain as there would be for example in Ontario for their auto industry. Americans actually need Canadian oil, they produce the most in the world at like 13 million barrels a day, but they also consume the most in the world like 19-20 million barrels a day. I heard different numbers all over but they got a big offset between production and consumption of like 5 million barrels that they need Canadian oil to fill the gap otherwise their prices will go up significantly. They need that 4 million barrels from Alberta and upto 1 million barrels from Saskatchewan.

President Trump is delusional if he thinks his 10% energy tariffs are gonna push Americans to fill the gap for their energy requirements. It seems to me he’s more floating an idea of government revenue to cover the huge debt. He gets one idea then he runs another idea to put economic pressure on Canada to become the 51st state. But nobody wants to go through with that pain so seems legally he has to run with the idea of the small 1% of American fentanyl coming into the States which is likely mostly just coming from Vancouver into Washington state. But Canada did sc--w up immigration in the past 2-3 years so he’s got a point on that. They are gonna run out of oil and drive prices up, cause more inflation, if they think they can cover their own consumption. From my perspective the easy oil is long gone in America, the drill to get a gusher from the pressure of a well kind of easy sweet oil is long gone. The rest of the oil is all in the rocks, so they have to resort fracking, or possibly offshore drilling in the arctic which is thawing. Fracking oil is in my opinion toxic because it ends up in their ground water tables, I would hate to live nearby places that frack.

All the pipelines and infrastructure built doesn’t really give either side a choice, on the Canadian side we have to sell to them, on the American side they have to buy from us. Just look at the map of North American pipelines. Their refineries are even geared toward the western Canadian select heavy oil. Americans are happy to buy Canadian oil, upgrade, and refine it for their use and also to sell to global markets.

I hope Canada can pull together and build energy east. That opens up the Atlantic side of the market for Canada to sell to Europe and possibly Africa. Right now the oil from Alberta going to Ontario and Quebec has to pass through Michigan, not sure if that gets tariffed if it just ends up back in Canada.

Freddie is on record for stating he supports Donald Trump ‘Put America First’.

I think that is exactly what will happen in the coming years, with or without tariffs. Extraction business will remain, but if Canada learns anything from all this, it's that they rely more on exporting their oil than refining it themselves. If Canada ends up getting more pipelines built like "Energy East", I think operations and any support jobs across the country could be in jeopardy but anyone in the patch who is extracting the oil will be fine.

Of course I could be way wrong. However this has already been slowly happening for years. Refineries in Canada are not getting near the capital investment they used to, and some refineries have even shuttered entire units and sent the production stateside with little to no effect on local market prices. Canada is just too expensive of a country to operate in and not a large enough domestic market for these companies it seems.