Cenovus Energy is laying off staff. The Calgary-based oil and gas company confirmed the job cuts on Tuesday, though not the number of employees affected. “As part of a continued focus on being more competitive across all areas of our business, and with a number of projects concluding, we have reviewed some team structures, which has led to some employees and contractors leaving the company,” the company told CTV News. However, the province has been made aware of the cuts. At least 50 people laid off at a single location is what’s legislated for government notification. “Alberta’s government is aware of recent layoffs at Cenovus Energy. We understand this is a difficult time for those affected,” the province told CTV News. “Cenovus has indicated that severance, extended benefits and career counselling services are being provided to support impacted qualifying employees.” The province says it can help those experiencing “a sudden change in careers” through various programs and services. Additional information about those programs and services can be found at https://www.alberta.ca/employment-services-layoffs.aspx. The province also says it is “supporting access to training and career development opportunities and helping out-of-work Albertans re-enter the workforce” through “Alberta at Work.” Cenovus has its first-quarter 2025 conference call and webcast and 2025 annual meeting of shareholders scheduled for May 8 (Thursday). The company says its revenues for 2024 were $54.3 billion, compared to $52.2 billion in 2023. Its net earnings for 2024 were $3.1 billion, compared to $4.1 billion in 2023.
