Cenovus plans further job, executive pay cuts in 2016
原始发布日期： 2016-02-12 发布者：李方字变大 字变小
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WATCH: Calgary based Cenovus has announced plans for more job and executive pay cuts amid a rough day on the stock markets. Gord Gillies has the details. Listen CALGARY – Oil company Cenovus announced on Thursday more job cuts are in store amid a fourth-quarter loss of $480.3 million. According to Cenovus, the company plans to “further reduce its workforce,” which had already been slashed by 24 per cent by the end of 2015. The cuts left Cenovus with a total of about 4,000 staff. Cenovus also said it plans to “adjust its discretionary spending and compensation programs.” “The company is undertaking a thorough evaluation of all its staffing costs to align total compensation with the current business environment.” Cenovus said the company’s president/CEO and four other highest paid executives will see their cash compensation, which was previously reduced in 2015, further reduced. MORE: Alberta bears brunt of January job losses as oil rout cuts across economy Click here to view data » MORE: One way to get ex-oil workers on job again — cleaning up old wells  00:58 Canada Trudeau: Government is preoccupied with fate of Alberta jobs  02:22 News Hour Calgary 2015 worst year for Alberta jobs losses since 1982  01:43 Top Story CP Rail workers union blindsided by plan to cut 1,000 jobs The oil company posted a Q4 revenue of $2.19 billion. On a per-share basis, Cenovus said it had a loss of 58 cents. Losses, adjusted for non-recurring costs, were 40 cents per share, well below what analysts had expected. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share. Cenovus shares have declined 23 per cent since the beginning of the year. The Calgary-based company also reduced its first quarter dividend by 69 per cent to five cents per share. By Melissa Ramsay Online Reporter Global News |