10-26-2020, 07:54 AM
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#121
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Loves Teh Chat!
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Quote:
Originally Posted by RichieRich
Both Cenovus and Husky have 5 jobs posted... lets see if that changes this week.
I'd be interested, as would all employees, to get a better understanding of when the merger actually happens, followed by determination of resource estimates (ie manpower), and the subsequent "right-sizing".
As if I need more competition in an already tight job market. Geez. I need to figure out the magic formula for becoming indispensable otherwise I'll need to retrain in something non-energy related.
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I think they said the transaction closes Q1 2021, right? You likely won't see a lot of rightsizing/layoffs until after close.
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10-26-2020, 08:29 AM
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#122
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Franchise Player
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In the meantime people will start excercising their contract rights and take early retirement before the merger as well.
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10-26-2020, 08:32 AM
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#123
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Franchise Player
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Quote:
Originally Posted by Nufy
In the meantime people will start excercising their contract rights and take early retirement before the merger as well.
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And risk losing that severance money? What do you mean contract rights and retiring early?
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10-26-2020, 08:59 AM
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#124
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First Line Centre
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Is the combined company going to rhyme with Cenovsky?
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10-26-2020, 09:07 AM
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#125
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First Line Centre
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Any idea what this means for capital spending?
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10-26-2020, 09:15 AM
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#126
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Draft Pick
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Quote:
Originally Posted by Red Slinger
Any idea what this means for capital spending?
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Per press release:
The combined company is expected to generate an incremental $1.2 billion of annual free funds flow, comprised of $600 million in annual corporate and operating synergies and $600 million in annual capital allocation synergies, achievable independent of commodity prices.
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10-26-2020, 09:26 AM
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#128
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Franchise Player
Join Date: Oct 2001
Location: NYYC
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Quote:
Originally Posted by Izzle
Is the combined company going to rhyme with Cenovsky?
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I believe they have settled on Moland Springs.
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10-26-2020, 09:41 AM
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#129
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Franchise Player
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Quote:
Originally Posted by Table 5
I believe they have settled on Moland Springs.
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They said there was going to be $500 MM in costs to do the deal. That'll be $400 MM in severance and $100 MM in consulants to come up with a new nonsensical name. The consultants who came up with Ovintiv are probably available.
**they're actually keeping the Cenovus name. It's already a faux-latin consultant name from after the EnCana split, so they must have decided it was still good.
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10-26-2020, 09:45 AM
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#130
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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Quote:
Originally Posted by Table 5
I believe they have settled on Moland Springs.
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"And our stock will rise HIGH!!"
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10-26-2020, 12:12 PM
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#131
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Franchise Player
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Add one more to the pile - can only dodge the axe so many times I guess.
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10-26-2020, 12:12 PM
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#132
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Franchise Player
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Quote:
Originally Posted by Rutuu
My source at CVE said 2000 total layoffs
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Slightly above that is what I’ve heard, and to be completed by the end of January.
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10-26-2020, 01:22 PM
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#133
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#1 Goaltender
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Quote:
Originally Posted by ComixZone
Slightly above that is what I’ve heard, and to be completed by the end of January.
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The deal needs to close first before they do layoffs. They will moves swiftly though so if it manages to close in January, that timeline would make sense.
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10-26-2020, 01:24 PM
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#134
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Franchise Player
Join Date: Dec 2007
Location: Flames Town
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Is this an acquisition or merger? If it's an acquisition, the name Husky will be gone forever, no? All those gas stations will be called Cenovus?
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10-26-2020, 01:28 PM
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#135
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Franchise Player
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There are still Petro Canada gas stations and that deal was closed 11 years ago. Assuming Cenovus keeps the retail, there's no certainty to the name changing.
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Quote:
Originally Posted by MisterJoji
Johnny eats garbage and isn’t 100% committed.
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10-26-2020, 01:30 PM
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#136
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Powerplay Quarterback
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Husky as a company will cease to exist. Gas stations branded as "Husky" will likely carry on for some time.
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10-26-2020, 08:34 PM
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#137
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#1 Goaltender
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Quote:
Originally Posted by Red Slinger
Any idea what this means for capital spending?
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This was an insightful if not speculative twitter thread on that among other things:
https://twitter.com/yyc_sem/status/1...607542784?s=12
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Quote:
Originally Posted by Biff
If the NHL ever needs an enema, Edmonton is where they'll insert it.
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10-26-2020, 09:07 PM
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#138
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First Line Centre
Join Date: Aug 2004
Location: Olympic Saddledome
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'Sorry' to interject some positive news into the thread: Suncor is moving their downstream offices to Calgary from Ontario. Several hundred jobs affected.
https://www.cbc.ca/news/canada/calga...xtlzUI_Qf7S9s0
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10-26-2020, 10:55 PM
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#139
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damn onions
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Good wish we saw more of this stuff for hurting Calgary.
Husky has a good brand. Likely keep the downstream assets under the same banner like Suncor did with Petro-Canada.
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10-27-2020, 02:09 AM
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#140
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Quote:
Originally Posted by ComixZone
Slightly above that is what I’ve heard, and to be completed by the end of January.
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Isn’t the transaction closing in Q1?
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