Cenovus Energy trimming workforce in May to improve competitiveness
What’s going on at Cenovus Energy?
Cenovus Energy (Cenovus) is trimming its workforce as part of a “continued focus on being more competitive across all areas of our business.”
“We have reviewed some team structures, which has led to some employees and contractors leaving the company,” the Calgary-based energy giant told CTV News.
While the company wouldn’t comment on the exact number of jobs being cut, at least 50 people were let go at one of its facilities in Alberta — requiring them to inform the provincial government.
“Cenovus has indicated that severance, extended benefits, and career counselling services are being provided to support impacted qualifying employees,” the province said.
The bombshell update comes as Cenovus prepares to release first-quarter results and host its 2025 annual meeting of shareholders on May 8.
If you’re a non-unionized employee, check out our Cenovus Layoffs Resource. You can also use our free Pocket Employment Lawyer tool for real-time insights.
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About the Author
Lior Samfiru
Lior Samfiru is a Founding Partner at Samfiru Tumarkin LLP and the Practice Leader of the firm’s Labour & Employment Law Group. Known for his advocacy and success representing both employees and employers, Lior exclusively serves clients in Ontario, where his extensive experience has made him one of Canada’s most sought-after employment lawyers.
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