Thread regarding Cenovus Energy layoffs

Great question for the next shareholder townhall

People slamming ex-Husky people... I've seen loads of Cenovus FLOATERS that do nothing! And tons and tons of useless layers of fake management! This combined company could easily shed 1000 roles both workers and management and not notice a difference.

@3qca+1vJgCBCC, Husky was a failing company before Cenovus bought it out. Whatever habits Husky taught you are probably the ones that make it not competitive. You say you like to follow rules, the Cenovus people probably think you are a mindless drone who cannot think on your own.

One can google that Li Ka-shing lost billions on his investment in Husky. And if Husky was seeking to be acquired then why then did they attempt a takeover of MEG?

@4bjb+1vJgCBCC Li Ka Shin is one of the biggest shareholder now.

Which Husky assets are profitable at $40/bbl?

I've met some good Husky people but one can just look at the historical performance of the individual companies to see which one was being run better.

Reading peoples comments that point fingers and blame others is hilarious when it seems most of you are mis informed... Cenovus didn't merg or buy husky cause it was going down or under... Li Ka-shing kids didnt want anything to do with oil and gas so he sold.

If i remember at the time of the merger Canovus needed an assest that was actually making money when oil crashed below 50 a barrell. Husky was the only oil company in canada that budgeted right and kept there operating budget at around 40 a barrel.

I know people that were cenovus and husky.. Both sides point fingers at each other, But one common thing every Husky person said was they were not welcome from any cenovus people from day 1.

I see all these comments about Husky people… I am from Husky and where I sit it’s the Cenovus people who are “winging it” most of the time. Don’t care what the rules are just do it for the least cost possible, etc. Only cares about meeting the metric doesn’t care how we get there.

The sad part is the potential we used to have was negatively impacted by acquiring Husky assets and inheriting incompetent leaders

ever since we bought the useless pile of junk known as husky (it wasn't a merger btw), we've been going down hill; sell the rest of that junk and call it a day.

Cenovus is the new Husky!

Cenovus before Husky was bush league. I can tie my own shoes too but I don't go out and buy refineries to pretend I can run an actual O&G business outside of drill & pipe to market. All of the downstream talent was let go with the merger and all we have left are half wit Cenovus hires who couldn't differentiate between gasoline from their own pi-s.

This company keeps missing the mark. So many failures. Actionist Investors dream

Jon came from Husky…

The problem is that ever since Husky leadership infiltrated this company…we’ve been in a death spiral. There’s a reason why Husky had to be bailed out! Why John gave the incompetent Husky leadership preferential treatment and leadership postings is baffling. Ever since the dawgs were parachuted in, the entire concept of personal performance has been tossed aside for “keeping everyone whole” no matter how incompetent or useless they are! The bonuses have been dropping as a result…zero motivation to bust your a-s when they are just going to award the target for everyone. Bring back Alex who believed in paying for performance and built a culture of hard work and extra effort that would and could be rewarded. It’s time to cull the kennel!

I would ask what was the value shareholders got? If it is nothing a bunch of ppl should be fired.