Suncor announce laid off of 1000 in 2015

[Sugarphreak]

...

[ExtraSlow]

AMEC is already pretty hurting. I think they were counting on the TSE folks to make money this year, but if they are getting big cuts, it's going to be a lean year back at AMECFW headquarters.

Cenovus is doing zero raises this year company wide, according to a little birdie.

[94boosted]

Originally posted by Sugarphreak
Cenovus just cut 700M from their budget today, and sounds like a lot of contract workers are about to get walking papers.

I would assume this is going to impact local EPC's like Stantec and Three Streams pretty significantly

They'll probably be focusing on their Christina Lake assets as those seem to be the most lucrative. The cuts will probably affect Foster Creek, Narrows Lake and Telephone Lake and whichever EPC's work on those.

[nzwasp]

Originally posted by ExtraSlow


Cenovus is doing zero raises this year company wide, according to a little birdie.

Hopefully their bonuses and LTI payments wont be too greatly affected from 2014.

[ExtraSlow]

I'm pretty sure their LTI is in the form of stock or options, so at current prices, those are worthless to cash in, but I'm sure they'd still grant them.

[killramos]

Originally posted by ExtraSlow
I'm pretty sure their LTI is in the form of stock or options, so at current prices, those are worthless to cash in, but I'm sure they'd still grant them.

And those grants will be worth real money if the strike price is based on current.

As always if your companies stay afloat in these times there is serious coin to be made for the employees.

Even if you get bought out at a decent premium its good coin for a short period of waiting.

My theory anyways.

[Matty_10]

Buddy is drilling for Crescent point and there taking the top 10 fastest rigs till break up everyone else is screwed for work. With that said he asked for time off and was told to go fuck himself.

[colinderksen]

Saw about 100+ cenovus trucks at a hotel in Medicine Hat today, wondering if it was pink slip day......

[trickyone]

It seems like it finally start, around 100 employes got laid off in Husky today

[Xtrema]

Originally posted by trickyone
It seems like it finally start, around 100 employes got laid off in Husky today

From the other thread

Originally posted by Feruk
Husky laid off 200 yesterday.

So it's 300 now?

[Chemengsait]

Buddy of mine works at Sanjel and told me they did a round of layoffs today including him.

[Sugarphreak]

...

[r3ccOs]

Originally posted by Xtrema


From the other thread



So it's 300 now?

almost 800 (half contractor/FTE) since January

[JRSC00LUDE]

Originally posted by colinderksen
Saw about 100+ cenovus trucks at a hotel in Medicine Hat today, wondering if it was pink slip day......

I just talked to a buddy last night again to see how it affected him, he's a consultant for them in Medicine Hat.

I only know feedback as it relates to him but they're not in quite as dire a spot as first anticipated (at least in his area). Lots of people are still gone though, including nearly 3/4's of the consultants. If things stay the status quo he'll still be working but at very reduced days. Which has him planning a pretty great summer camping and fly fishing for 2-3 week stretches each month so he's kind of excited for the year actually if things remain on that course. Not an idiot with his cash so 5-10 days a month will keep everything funded just fine and he figures he can weather through the year while actually enjoying life.