06-17-2020, 06:16 PM
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#81
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Franchise Player
Join Date: Sep 2013
Location: Brisbane
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Quote:
Originally Posted by Lubicon
Chevron laying off up to 35% of Canadian staff in early July. They are relatively small in Canada but it still sucks.
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Chevron recently announced 10% layoffs internationally. Definitely sucky to see their Canadian operation at over 3x that rate.
__________________
The masses of humanity have always had to surf.
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06-17-2020, 09:52 PM
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#82
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Crash and Bang Winger
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Quote:
Originally Posted by Krovikan
Wow, 78% tax, compared to the 30-50% we tax our O&G companies, no wonder their fund is 1 trillion.
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I mean the elephant in the room is that fact that Alberta has re-distributed enough money to rival that...I always find it odd that the Norwegians get so much credit for their wealth fund
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06-19-2020, 01:28 AM
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#83
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Crash and Bang Winger
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Quote:
Originally Posted by FireGilbert
Chevron recently announced 10% layoffs internationally. Definitely sucky to see their Canadian operation at over 3x that rate.
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Chevrons Canadian Business Unit (CBU) was basically staffing up in preparation for the Kitimat LNG project.... without kitimat, there really isn’t much left?
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06-19-2020, 09:15 AM
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#84
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Powerplay Quarterback
Join Date: Jan 2006
Location: saddledome
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Quote:
Originally Posted by 8sPOT
Suncor made the decision to layoff about 70 people, which is actually a small number across the whole organization. Could be more in the future though...
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Can confirm. Two folks from my already small team were terminated yesterday.
__________________
Your CalgaryPuck FFL Div A 2008, 2009 & 2010 Champion.
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10-02-2020, 11:20 AM
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#85
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Backup Goalie
Join Date: Mar 2015
Exp:
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10-02-2020, 11:30 AM
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#86
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Powerplay Quarterback
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The amount of vacant office space downtown is going to be absolutely mind blowing. No idea how anything in downtown is ever going to come back.
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10-02-2020, 11:34 AM
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#87
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Franchise Player
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Quote:
Originally Posted by Leondros
The amount of vacant office space downtown is going to be absolutely mind blowing. No idea how anything in downtown is ever going to come back.
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I think I heard it was close to 30%, which is crazy.
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10-02-2020, 11:41 AM
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#88
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Posted the 6 millionth post!
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This makes a bad situation worse. Those office spaces are going to need to be converted to Residential/Mixed-use if possible, as well as opening up to unorthodox uses for leasing space. At the current situation, there is just no other way. COVID also doesn't help given that towers can be cesspools for germs, and that work-from-home and remote work has essentially had a rocket strapped to its back this year.
Maybe they can gut one of the towers and set up a huge "Drop of Doom" amusement park ride?
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10-02-2020, 11:48 AM
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#89
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Norm!
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Quote:
Originally Posted by Robbob
I think I heard it was close to 30%, which is crazy.
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Yeah, there was an article the other day that its 30% vacant, and there's another expected big jump in that coming.
There are a lot of businesses that were hanging on, and are on the edge of failure, and since things like Revenue aren't coming back very quickly we'll see another collapse.
I know a lot of restaurants downtown that are closing up shop to.
I was downtown the other day, and even with people returning to the office from the work from home thing, it feels really empty.
__________________
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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10-02-2020, 12:29 PM
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#90
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First Line Centre
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Quote:
Originally Posted by CaptainCrunch
Yeah, there was an article the other day that its 30% vacant, and there's another expected big jump in that coming.
There are a lot of businesses that were hanging on, and are on the edge of failure, and since things like Revenue aren't coming back very quickly we'll see another collapse.
I know a lot of restaurants downtown that are closing up shop to.
I was downtown the other day, and even with people returning to the office from the work from home thing, it feels really empty.
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I thought I'd read another article recently, citing someone at Colliers (I think) that said there's an increase in DT space from suburban tenants that are finding opportunities in the current market that didn't exist before. As such, DT vacancy had actually dropped ~1.5% to around 25.0%.
In any event, DT is eerily quiet these days.
Last edited by you&me; 10-02-2020 at 12:34 PM.
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10-02-2020, 12:52 PM
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#91
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Norm!
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__________________
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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10-02-2020, 01:43 PM
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#92
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Franchise Player
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Quote:
Originally Posted by CaptainCrunch
Yeah, there was an article the other day that its 30% vacant, and there's another expected big jump in that coming.
There are a lot of businesses that were hanging on, and are on the edge of failure, and since things like Revenue aren't coming back very quickly we'll see another collapse.
I know a lot of restaurants downtown that are closing up shop to.
I was downtown the other day, and even with people returning to the office from the work from home thing, it feels really empty.
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Downtown this week feels absolutely packed... compared to the last 6 months.. But pre-covid? Basically dead.
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10-02-2020, 02:05 PM
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#93
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Crash and Bang Winger
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Quote:
Originally Posted by Weitz
Downtown this week feels absolutely packed... compared to the last 6 months.. But pre-covid? Basically dead.
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We're at 50%, but it also feels to me like there's less people going for coffee and lunches. Throw in all the companies that are starting to announce more rounds of layoffs and I think it's gonna get a lot uglier in the next bit...
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10-03-2020, 05:49 AM
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#94
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Crash and Bang Winger
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Quote:
Originally Posted by Ozy_Flame
This makes a bad situation worse. Those office spaces are going to need to be converted to Residential/Mixed-use if possible, as well as opening up to unorthodox uses for leasing space. At the current situation, there is just no other way. COVID also doesn't help given that towers can be cesspools for germs, and that work-from-home and remote work has essentially had a rocket strapped to its back this year.
Maybe they can gut one of the towers and set up a huge "Drop of Doom" amusement park ride?
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Yep. Residential is not really that feasible either. It’s not like Calgary has a housing shortage. The sad part is more vacancy = less jobs = less people = less demand for housing
However, the Drop of Doom, I like that idea!
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10-04-2020, 08:06 AM
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#95
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ALL ABOARD!
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Quote:
Originally Posted by taffeyb
However, the Drop of Doom, I like that idea!
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I'd prefer a Die Hard themed laser tag or paint ball course.
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10-25-2020, 05:23 AM
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#96
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First Line Centre
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Cenovus buying Husky. I assume this will result in staffing reductions for both companies
https://ca.reuters.com/article/idCAKBN27A0DS
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10-25-2020, 07:09 AM
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#97
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Powerplay Quarterback
Join Date: Jan 2009
Location: Bonavista, Newfoundland
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Quote:
Originally Posted by Calgary14
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More detail in the link below. It’s of particular interest to those of us on the East Coast. Husky operates one of the four offshore platforms, and Cenovus, a heavy oil company, has no other operating interest in the region.
http://www.globenewswire.com/news-re...gy-Leader.html
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10-25-2020, 07:33 AM
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#98
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Draft Pick
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Sounds like CVE wants to get into refineries and offshores.
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10-25-2020, 07:47 AM
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#99
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Franchise Player
Join Date: Aug 2008
Location: California
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Quote:
Originally Posted by Calgary14
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1.2 billion in efficiencies means 6000 jobs
The reason this works is it provides hedging for both companies. Husky was looking at MEG to prove feedstock into their refineries as a hedge against high prices and Cenovus now has refineries as a hedge against low prices.
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10-25-2020, 08:18 AM
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#100
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First Line Centre
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Quote:
Originally Posted by GGG
1.2 billion in efficiencies means 6000 jobs
The reason this works is it provides hedging for both companies. Husky was looking at MEG to prove feedstock into their refineries as a hedge against high prices and Cenovus now has refineries as a hedge against low prices.
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Exactly... revenue diversification and protection. Essentially less reliance upon being only a producer. Likely opens other doors too. Nervous times for many employees - gotta wonder how much overlap there is?
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