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.

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Next steps for Cenovus Energy staff

If you’re fired or let go from Cenovus, understanding your legal rights is crucial.

Non-unionized employees in Canada’s energy industry are entitled to severance pay. The amount you’re owed is based on a variety of factors, including your role, tenure, age, and ability to find similar work.

WATCH: Employment lawyer Lior Samfiru delves into severance pay on an episode of the Employment Law Show.

Here’s what you need to know:

• Compensation: Severance packages, which can be as much as 24 months’ pay, may include salary, bonuses, commissions, and other forms of compensation. Use our firm’s free Severance Pay Calculator to better understand your entitlements.
• Deadlines: You generally have up to two years from the date of your termination to review and negotiate severance offers.
• Action steps: Consult an employment lawyer at Samfiru Tumarkin LLP to ensure your severance package is fair and aligns with Canadian employment laws.

Major employers slashing staff

Cenovus isn’t the only major employer cutting jobs in 2025.

Other big names, including Meta, Morningstar, OpenText, Intel, Infosys, Google, Alstom, Microsoft, S&S Activewear, Siemens, HPE, Wayfair, MLSE, Disney, Autodesk, JPMorgan, and Vale, have also pulled out the axe.

SEE ALSO
• Estée Lauder reportedly cut all Canadian staff in Hudson’s Bay stores
• Canada’s immigration department slashing workforce by 25%
• Where are layoffs happening in Canada?

Lost your job? Contact us

If you’ve been fired or let go from Cenovus, the experienced employment law team at Samfiru Tumarkin LLP can help.

Our lawyers in Alberta, British Columbia, and Ontario have helped tens of thousands of non-unionized individuals resolve their workplace issues.

Call us today at 1-855-821-5900 or request a consultation online.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.