Chowda7
Active Member
Calgary-based Cenovus Energy confirms it is laying off a number of employees
Cenovus Energy is laying off staff.
www.ctvnews.ca
|
|
|
Calgary & Alberta Economy
- Thread starter Oddball
- Start date
www.ctvnews.ca
Chowda7
Active Member
Opportunity Calgary Investment Fund’s new Express stream invests $3.5 million of fast funds across 23 companies
ZayZoon, Carbon Upcycling, CoolIT Systems plan to hire and train personnel with capital injection.
betakit.com
Poor Cenovus only made $3 billion profit last year compared to $4billion the year before.Calgary-based Cenovus Energy confirms it is laying off a number of employees
Cenovus Energy is laying off staff.
On a positive note the layoffs don't appear to be huge numbers. Enough to keep the shareholders happy, but nothing crazy. Also, these layoffs in smaller chunks, spread out over time help reduce the percentage of people working in Oil and gas.At the same time Cenovus lays off some employees, non oil and gas related companies like CoolIT and Zayzoon (mentioned in the article) hire people.Opportunity Calgary Investment Fund’s new Express stream invests $3.5 million of fast funds across 23 companies
ZayZoon, Carbon Upcycling, CoolIT Systems plan to hire and train personnel with capital injection.
trtcttc
Senior Member
Also keep in mind news media likes to publish layoffs, but don't publish when people get hired. Cenovus doesn't report their FTEs, but salary expense was up 13.5% between 2023 and 2024, which is definitely not just inflation adjustments.Poor Cenovus only made $3 billion profit last year compared to $4billion the year before.
I guess that's true, but could be why they're doing layoffs this year. That billion dollar drop in earnings isn't due to the extra employees hired in 2024, but shareholders always want to see some kind of action when there's a drop in earnings.
Calgary firm eyes $10B AI data centre building blitz - The Logic
Beacon AI Centers has also installed Josh Schertzer, a former Blackstone executive, as its new CEO as it looks to cash in on the AI 'arms race'
thelogic.co
Still early visions, but good to see this as a possibility.
Chowda7
Active Member
Varcoe: Trans Mountain CEO eyes initiatives to increase capacity, hopes to join national projects list
Adding drag-reducing agents to allow more oil to flow through its existing network could increase system capacity by five to 10 per cent.
calgaryherald.com