Thread regarding Cenovus Energy layoffs

If Husky staff are eventually getting retention bonuses, then why did we severance off half of our subsurface staff in DB to replace them with Husky subsurface staff, and then some? This will clearly cost more in the long run!

To those saying lay-offs are necessary: Are retention bonuses necessary too? I wonder how many jobs would be saved with $30M?

If there was an increase in salary and stock options please state it as such. The retention bonus is an additional incentive so no need adding to the confusion by labelling something other than the retention bonus a "retention bonus". I think we're all on the same page however that executives profiting either through increased salary, stock options or a retention bonus at a time when employees are being laid off is bad optics to put it mildly.

Martyrs for the betterment of the masses you are suggesting, please don’t minimal the masses collective intelligence. Between salary increase, stock option etc, the retention bonus was the last thing that bothered either. The old smoke and mirrors gag, it was a good try however.

My understanding is that Alex and Jon were exempt from the retention bonuses. I don't like how things are going down or the fact anyone is getting a retention bonus but let's not muddy the facts.

If you wanted to make the company stronger you would have taken an axe to management first as an example. 4 VPs of safety what a joke. Hard decisions are what employees are going to make as things get dropped and their mental health deteriorates. Work harder, take on more, find us savings, ignore our lies, etc....

My part time side gig is looking for other work. Alex has made Cenovus a place to collect a pay check and nothing more. We are not a team and we are not in this together, your $500k plus retention bonuses proves that clear enough.

If you were willing to make hard decisions you would lead by example with an ultra lean leadership which you did not do and not give yourselves extra bonuses while reducing your employees bonuses at the same time. Then tell us we are lucky to even get one?

I don’t want a participation ribbon I want what we were promised; fairness and respect. Making people go through an entire year where you could be let go at anytime is not fair or respectful. It’s called abuse.

Layoffs are necessary to make the company stronger. A fact of life. We dont live in a world of participant ribbons. These are hard decisions but needed. If you want that go work forTrudeau

Unfortunately, this is part of the business.

AP doesn’t get a retention. I think he’s a very good CEO, when you have too many people... companies don’t survive and everyone will lose their job in the end.