I was layed off on Tuesday. Despite being involved in eight projects at various stages of development. Solid performance reviews. Perhaps my Director felt I was too expensive?
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I am curious if you were in an oil sands position. What you guys don’t realize is you are not in a growth cycle. You are in a development cycle and the extra weight has to be shed to make the bottom line make sense. Every company spends extra when it is growing. Cenovus isn’t right now. And no I am not some manager or something like that. I am just a person who has been in the oil patch a while.!
Well they are boasting about record profit this quarter plus giving the executives millions in bonuses while laying people off. They dont care about the people at all. All that fat CEO actually cares about is his mansion in Hawaii while others are scared about losing their only house.
How many layoffs occurred this week?
@2vxi+1c2i0R9O, Come on now, it's not that bad. The Execs have done all the heavy lifting managing this train wreck of a company. It's hard work making all the tough decisions (like how many people to lay off which will yield the biggest bonus and what kind of mansion to build).
Get out while you can, unless you are one of the chosen ones. CVE is going the way of HBOG and Doom petroleum. You can see it with the way the BOD and Execs are milking this dying cow.
@2hpa+1c2i0R9O I hope that ends up in the media. Top executives taking huge bonuses while laying off thousands of people…
If it makes you feel better all the retention bonuses to the tune of $32M will be handed out to our executive now. Their six month wait is up so they get major pay. I believe a few were up to $600K each. Sorry about your layoff but remember we are all in this together and Alex is going to explain our culture values going forward. I’m betting it’s let’s make our CLT more money and to he-l with the rest of you all. Maybe that’s a bit too honest for them?
performance agreements mean nothing
They keep who kiss their aas and who they like.
I am so sorry - it is always hard to have that happen. Try not to take it too personally - I know of several (including myself) that had stellar performance reviews over multiple years, listed as "critical" on the lists made back in December but still got "released" because a "hard business decision had to be made". From what I hear from those still there, the company and culture is suffering immensely, and feeling the impacts of these business practices. (Most people I know who are left are actively looking for new opportunities.) Enjoy your summer off, collect your EI, and I hope you get a great job in September. Things are picking up in the job market so good luck!
Any idea of all the department that got hit? I heard safety was hit in Grande Praire
Did you receive a package as we heard the packages were being scaled back drastically? Was it 2 weeks per year?
I guess everyone here has their heads in the sand.. Didn't the company say that there will be many rounds of layoffs taking place as we need to meet synergies? My suggestion is you got a ton of $ as severance move the f** on..
I bet you were smarter and better qualified than your manager. That seems to be the criteria
Layoffs used to be about performance and contributions. Now they are about politics, age and compensation.