Has your office / company laid people off or are you expecting layoffs? PART 8

[ExtraSlow]

I was being partly tongue in cheek. Synergies is like 80 percent layoffs, and then savings on rent, facilities etc. That's an iten they always mention in these transactions.

[killramos]

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So that means what, 6000 layoffs?

Sounds pretty accurate based on what I have read.

[mr2mike]

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So will this make Cenovus share price go up or down?

Probably down. Seem that any deals lately in energy cause neutral or drops in share price.

[ExtraSlow]

They are issuing new shares for this, price has to go down.

[nzwasp]

So which company is going to buy MEG?

[pheoxs]

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They are issuing new shares for this, price has to go down.

Yup, lots of husky shareholders will probably sell off to cash out

[ExtraSlow]

Assuming this crashes the cve share price, and assuming you are thinking long term, buying the dip isn't crazy.

[Buster]

Is anyone still working for Cenovus or Husky because they want to at this point?

[Darkane]

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Is anyone still working for Cenovus or Husky because they want to at this point?

Lloyd people

[riander5]

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Is anyone still working for Cenovus or Husky because they want to at this point?

I've never heard one person who left Cenovus say they liked it as a company or culture. In fact one person eloquently put it that if the bow cratered (back when they were in there) they wouldn't shed a tear haha. Never heard quite as bad about Husky

[dirtsniffer]

Lloyd has probably the only husky people that should feel safe

[brucebanner]

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Is anyone still working for Cenovus or Husky because they want to at this point?

I have an acquaintance that's a field operator for them, doesn't mind working for them.

[roopi]

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Yup, lots of husky shareholders will probably sell off to cash out

I don't see this. Shareholders are down alot already and they are only getting a 23 percent premium here. If this merged company is profitable at $36 wti next year and $33 within a couple of years this would be the time to be buying and holding. CVE is back to paying a dividend as well once the merger is closed. Just my thoughts you never know how the market reacts.

[killramos]

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Probably down. Seem that any deals lately in energy cause neutral or drops in share price.

The only way you make money in this industry is getting bought.

[ExtraSlow]

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Is anyone still working in Canadian Oil and Gas because they want to at this point?

FTFY and also, no.

[ExtraSlow]

My guy at Cenovus has been doing some math. Current headcount is 5000 at husky and 3000 at Cenovus. Husky has about twice as many employees per barrel production.
Total job reductions of 2000 to 2500, with heavy majority from Husky.

Any finance/accounting/IT/corporate planning/supply chain folks should be prepared to be laid off.

[dirtsniffer]

What would Trudeau do if gm announced 2500 layoffs

[mrsingh]

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What would Trudeau do if gm announced 2500 layoffs

Cry...

[ThePenIsMightier]

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Cry... And send a Brinks truck full of money to be handed out like candy to over-unionized, uneducated auto workers.

Fixed that for you.

[mrsingh]

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Fixed that for you.

Lol thanks, I forgot to add that part!