Husky Energy Inc. cumulative redeemable preferred T.HSE.PR.B

RE:RE:RE:Staff Cuts Coming

[mrbb]

onec007 wrote: WOW! If you are right about that number then it's quite sad for the workers because 400 is a large number to just let go. Granted many are probably contractors, but still they all have responsibilities and bills to pay. Assuming a min. of $100K per employee we are looking at $40 million in savings per year.

Feel bad for the employees, but definitely we are in a difficult time in the market and they need to bring costs down further. Since LKS owns substantial shares a dividend cut would be disastrous so it's easier to cut staff.

husky is not into contracting out in calgary HQ, where this laid off mostly happen