Thread regarding Husky Energy Inc. layoffs

As a Husky shareholder, I got today the voting package and the package to appoint a proxy to vote on my behalf should I not be available to vote by myself.

I don't know why they are wasting their time mailing out the package when our votes as minority shareholders will not count anyway. Li Ka-shing as the majority shareholder already voted yes. So, why bother with the rest of us.

With the VPs having to complete the profile as well, does it mean they (VPs) will be considered for all available jobs (VP and below jobs) including individual contributors jobs? Or they will be considered for only VP level jobs? Does anybody know?

One part of me want them to be considered for individual contributors job and be given individual contributors job so that they know how it feels to be down there while another part of me do not want them to be considered for individual contributor job so that they don't take away some of the slot meant for us individual contributors.

The VPs are also now required to complete the profile that was meant before for Director and below. This is a good development in my view. Let everybody fight for a role in the new company.

Once the VPs are announced we will see how many Husky leaders make it over there. That will set more of the tone. And if very few make it well that will be very telling for the rest. At least they get toasted first.

"If an employer intends to terminate the employment of 50 or more employees at a single location within a 4-week period, the employer must give the Minister of Labour and Immigration written notice of at least 4 weeks."

How do we know if they have given notice? Maybe they already gave notice... I mean the news said that at least %25 of the workforce would be terminated.

It doesn't really matter if they give notice or not, or if it happens before Christmas, one thing for sure is that it will happen, many people will be let go, mostly from the Husky side I would think. . Sounds like by January, don;t spend to much on Christmas.

To the government. Not to you. You don’t know what you’re talking about.

https://www.alberta.ca/group-terminations.aspx

" required to give 90 days advanced notification" ha ha you are not so smart, they don't have to give any notice. You will come in one morning and be walked out with papers in your hand. simple as

For Husky, the shareholders meeting may not be relevant because of ka-chings holdings, but that is not the case for Cenovus. Cenovus does not have a majority shareholder like Husky. Hence for Cenovus, the shareholders meeting is relevant and the deal is as good as dead if the shareholders of both companies do not ratify it.

Having said that, I am very confident that Cenovus shareholders will ratify the deal as well.

They plan to officially file dec 16th, the shareholder meeting is irrelevant considering mr ka-chings holdings. Sedar has it and the payout for a certain someone pegged at $3.2MM

anyone who thought this was a merger is kidding themselves. It was a take over. Cenovus took Husky over and take not a merger. Quit kidding yourself. That’s why the combination is called Cenovus.

December 15 for layoffs is definitely fake news. The shareholders of both companies will have to ratify the deal before the deal can hold. The shareholder meetings for both companies (Husky and Cenovus) will be held only on December 15 (the same day the fake news is calling for the layoffs). Layoffs can happen only after the merger is ratified by the shareholders. Taking all of these into consideration, I do not see layoffs as a result of the merger happening before January 15 at the earliest. If you add the need for all other approvals and notice that need to be given, I don't see the first round of layoffs happening before February 1st.

See this link for the shareholders meeting schedule for both companies:
http://www.globenewswire.com/news-release/2020/11/16/2127831/0/en/Cenovus-and-Husky-to-hold-special-shareholder-meetings-on-proposed-Plan-of-Arrangement.html

It’s fake news, for any such large layoffs they would be required to give 90 days advanced notification which puts us to January 27th. So my guess is the first round will happen around Feb 1 2021.. Integration planning and transition planning is in it’s initial stage, there needs to be a graceful transition also layoffs won’t happen until after the deal closes which means shareholder approval and 4 levels of regulatory approvals..

Dec 15 for layoffs is fake news. Integration page FAQs clearly say layoffs will happen after merger

Dec 15 is quick. They would have our Talent Profiles for only 2 weeks that point. Are they really reviewing them?

I can confirm Jan 4 as the official takeover date. According to the Integration team meetings, layoffs will commence on Tuesday December 15th.

Deal will be finalized on January 4. Layoffs between both companies will happen before Christmas, brace yourselves folks, coming faster than anyone anticipated!

https://www.thelayoff.com/post/@eem+181q7xFN

They did use and continue to use "Merger" in a lot of both internal and external announcements and documents .

“Merger” is never used in the announcements or documents because it isn’t one. It is a takeover. “Combination” is a softer term and causes less reaction from the public and employees. It is not a legal term. This is a friendly takeover.