Over the next two months, Cenovus is planning to lay off upwards of 2,000 employees, with the first round of layoffs expected in early February.
After the first round of layoffs, more cuts are to follow in a couple of phases in later February and March. The affected workers will receive termination notices by phone, with work-from-home mandates still in effect.
This move comes after Cenovus finalized their deal to buy Husky Energy, a $3.8 billion deal in October, where it was announced that 20-25% of the combined workforce, 1,720 to 2,150 layoffs, would be felt as a result of the merger.
The merger meant there would be overlap and redundancies in a number of roles across the business, resulting in workforce reductions to take place throughout the course of the year.
As this story develops, we will keep you updated with more information.