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

Wow... massive layoffs ahead

[autofocus111]

Didn't think there was so much overlap.

>>>TORONTO/WINNIPEG, Manitoba (Reuters) - Cenovus Energy Inc plans to cut 20% to 25% of its workforce after it acquires Husky Energy Inc, the companies said on Tuesday, as Cenovus begins to slash costs in the Canadian oil patch’s biggest merger in nearly four years..The job losses could total about 2,150, based on the size of their workforces, including contractors. Most will be in Calgary, Alberta, Husky said in a statement. Cenovus and Husky confirmed the job cuts after two sources told Reuters of the magnitude of the reductions

https://www.reuters.com/article/husky-energy-ma-cenovus-energy-jobs/exclusive-cenovus-to-cut-up-to-25-of-combined-workforce-with-husky-energy-after-deal-companies-idUSL1N2HI1QG

[RagingBull3]

Cenovus is buying Husky.    Only one company will exist.   You're going from 2 companies down to one company.    It's not a Partnership with 2 companies working together. Husky Effectively will be GONE.

[autofocus111]

I figured the cuts would be targetted at white collar overhead jobs... IT, management, accounting, engineering. This sounds like more than that. 25% is a lot!