https://huskyenergy.com/news/release.asp?release_id=2113977&utm_source=HP1&utm_medium=HuskyCenovus&utm_campaign=INV
33 replies (most recent on top)
Make sure you print all your required savings plan and any other pertinent files.
Once you are walked out the door you may have a hard time verifying anything if you don't have hard copy. When you are packaged out the numbers are usually correct, but always better to be safe.
It's still the old boys club at cenovus, and they have already gotten rid of lots who are not part of the club so those that are still there are likely safe and VPs will fight to protect their current empires, they are not forward thinkers and unlikely to embrace any change (including people). Field OPs is the safest, engineering/reservoir related directly to field OPs should also be safe for a while, untill CVE thinks they can do it better by changing out people. If you are inflexible and have a big ego that will clash with the big egos already at CVE, you will be toast so don't rock the boat if you want to stay.
Anybody else is redundant. folks will be kept long enough for hand over the out the door you go. If you can find something now it is far less stressful to make a move on your own terms instead of being forced.
Almost all of Husky IT is offshored to workers in India (TCS,Accenture, IBM, Deloitte) so they will be cut loose I would think, and the rest (Canadian workers) removed once cve figures out what they do and moves any data they want to keep over to their IT team
That should be 200 or so workers toasted
My take on this: managers and any leads are all duplicates so they are mostly done. Contractors done. Then teams like HR, IT, Safety, pipeline spillers, Envi & Reg, and procurement are hit hard. Over time mgmt at Sunrise will be replaced as CVE can do it better.
mo–ns at CVE have done a brutal job at the A&D so bet your life they will screw up along the way. The main guy did a horrible job at the Conoco purchase so they gave him this one to run as well. Leadership smart like brick.
I wonder if they will want to get people's salary off the books before the end of the year? Or does it matter they will just walk me out when the time is right.
Pretty sure the Husky is the lowest priority right now.
Let's start Save HAPPY THE HUSKY campaign!
I'm not a piece of meat.
But the most important question is who gets custody of Happy the Husky? Or is he going into retirement with Rob and his Golden Retriever?
2000 people gone between the two companies. After about 600 contractors on both sides, that leaves 1400 or so. 60-70% of that will be on the Husky side, because Husky is bigger. The majority of that will be at the Calgary Head Office. I'd say 50% of the Husky Calgary Office will be gone. Obviously some teams will be hit harder than others, but likely only about half of us will make it through. Good luck everyone!
CVE doesn’t know how to do mergers well. If that dumb a** VP Drew is responsible, guarantee he will think the husky systems are better so will keep them. The husky marketing and safety groups including process are light years ahead of CVE. CVE HR is despised. The assets for both companies will be fine. Supply chain at both companies stink so likely it will be the less stinkier that survives.
Most of CVE vp and EVP levels are weak weak weak. HR, Supply Chain, Safety/regulatory, Finance and their respective management team are weak. All butt kissers. So don’t sweat it yet Husky. You have a chance!
Anyone know what the plans are for the Hardisty terminal? Does the new conpany want to be in the midstream space?
Most of the skilled Husky employees were sent packing in the last couple of year nothing left but dead wood and c-appy people. That's one of the reasons they are 9B in debt and it they had always kept the best employees the company wouldn't need to be sold. I know when I spoke up to managers about how poorly they were running things they put a target on my back and packaged me last October... Thank god for that, I'm making more money and have a secure job now. RIP Husky
Post from TheLayoff.com
Must be the same guy that confirm layoffs on Oct 6, 2020
2,000 to be let go over the next 18 months confirmed internally.
20-25% of the new company... heavily weighted to the Husky side so more like 50% of us and you know the managers will throw everyone under the bus!
Give your head a shake. The $600M is directly related to layoffs. They are saying close to 2,000 employees will be let go between the two companies. That’s 20-25% or about 1 in 5 of us will be gone. I’m thankful the mgmt is going to get it first and last but don’t kid yourself there will be a lot of staff released.
Is Happy the Husky part of the deal or does he go to the farm to live out his golden years?
Remember to be thankful for all that you have learned and the relationships you have made. This is tough time for all. Take a breather, check your finances, and step forward into what is next with your head high.
Can't speak for Cenovus but at Husky all of the good employees have been sent packing already. For the most part the useless people have been protected through each round of layoffs as anyone with a brain will speak up rather than watch the bullc-ap happen. I mean... if they had always kept the best employees the company wouldn't need to be sold
Theres a lot of people here directly correlating 600m to work force reductions. That interpretation is just wrong. While their will be overlap in areas such as IT, HR, and middle management. People seem to forget that the assets merging still need to function respectively. Both companies have already shed huge amounts of their workforce due to covid/low oil prices, and going leaner just doesn’t make sense. All the best people from both companies are currently employed, and they will still continue to stay employed throughout this merger.
With that being said, people here seem to ignore the synergies between the operating strategies from FCCL, the deep basin asset combination and the commercial savings from both companies. Those savings are totalized with the work force reduction, so saying that husky is laying off 50% of their staff is just ridiculous. If you work for either of these companies you would have enough common sense to know that keeping all assets running safely and effectively is important in a low price environment.
So unless your in an oversaturated department that is full of jobs that directly overlap and are not required moving forward, take a deep breath because your going to be fine. The closer to the well pad you are, the safer you will always be.
Kiss the corporate communications team at Husky goodbye. This includes all the media, investor, and community relations folks. All will be redundant. Field staff will be ok with the exception of the middle managers. Lets face it, cenovus wanted the assets, not the people....
Oh I think staff at both companies are well and screwed over. Cenovus has a history of screwing over their own staff after 8 rounds of layoffs. The latest being related to the tragic and horrible Conoco deal.
20-25% translates to 1450-1850 people in the combined entity.
CVE internally mentioned 20-25% percent of employees will be let go. They didn’t say if that was Cenovus alone or the combined entity.
$600mm between layoffs at both Cenovus and Husky as per investor presentations.
$600MM reduction, based on last years Husky layoff numbers that makes approx 3150 jobs about to be cut...
$600M immediate OPEX reduction predominately in workforce reductions on slide 9 of this presentation https://www.cenovus.com/invest/docs/corporate-update.pdf.
So long Husky folk! It's been a good 80 years.
Good luck my Husky friends, sounds like you will be out on the street
Wow. A lot of layoffs planned according to this presentation: https://www.cenovus.com/invest/docs/corporate-update.pdf
This could be a good opportunity to survive in this world. Mostly VPs, Managers will be gone but ordinary personnel, if skilled, will stay. If oil will go up, this will be a strong company in Canada
Yeah at least 50%... thanks Rob,Rob and Rob! Field staff probably the least affected. Who wants to start growing lettuce in the husky tower when it's vacant?
From a failed takeover attempt of MEG Energy to being acquired by Cenovus.
I've heard that around 50% of Husky employees will be let go due to redundancies if this deal goes through.