Suncor to cut 1,500 jobs by end of year

[Off in the Bushes]

Trimming personal is just low hanging fruit, as they know the all the cost associative with employees. Now stream lining the process and maximizing their efficiency thats a challenge and requires more energy.

[Hooter]

I’m shocked and disappointed if people actually think this has anything to do with the recent election. I work for Syncrude, now operated by Suncor, and the executive leadership team has been saying we’re not cost competitive compared to other producers in the region for a long time. We’ve been hearing for a year and a half that layoffs were coming (some of which were last year and now more coming this year), so no, this has absolutely nothing to do with the election. It’s a coincidence at best.

Rich Kruger, in my opinion, was brought in to increase share price and reduce costs by eliminating non-value work. I could post the email we all received yesterday afternoon but not sure that’s in my best interest. Suffice to say it costs us way too much money to produce a barrel of oil. Period.

In the end, yes, Suncor does make a lot of money, but that doesn’t mean that they shouldn’t run the most efficient and profitable company possible. It doesn’t matter if you have 16 employees or 16,000 employees, you’re in business to make money.

I do agree that Suncor’s safety record is abysmal, and that’s THE reason Mark Little was removed. We have a long way to go, but I can’t say I disagree that some fat needs to be trimmed, as long as it’s the “right” people that are laid off because there’s 10% of my department that could be fired with absolutely no effect on our output. Part of me actually hopes we get rid of some dead wood….

[elkhunter11]

Originally Posted by Hooter

I’m shocked and disappointed if people actually think this has anything to do with the recent election. I work for Syncrude, now operated by Suncor, and the executive leadership team has been saying we’re not cost competitive compared to other producers in the region for a long time. We’ve been hearing for a year and a half that layoffs were coming (some of which were last year and now more coming this year), so no, this has absolutely nothing to do with the election. It’s a coincidence at best.

Rich Kruger, in my opinion, was brought in to increase share price and reduce costs by eliminating non-value work. I could post the email we all received yesterday afternoon but not sure that’s in my best interest. Suffice to say it costs us way too much money to produce a barrel of oil. Period.

In the end, yes, Suncor does make a lot of money, but that doesn’t mean that they shouldn’t run the most efficient and profitable company possible. It doesn’t matter if you have 16 employees or 16,000 employees, you’re in business to make money.

I do agree that Suncor’s safety record is abysmal, and that’s THE reason Mark Little was removed. We have a long way to go, but I can’t say I disagree that some fat needs to be trimmed, as long as it’s the “right” people that are laid off because there’s 10% of my department that could be fired with absolutely no effect on our output. Part of me actually hopes we get rid of some dead wood….

I worked for Syncrude for 35 years, and I agree, they could easily do as much or more with 10% fewer employees. From the start they had people that really did nothing, and it just got worse with the 21st century virtue signaling. Unfortunately, I don't see the virtue signaling not being a huge factor in which employees become unemployed.

[MountainTi]

Originally Posted by jstubbs

The way they waited till days after the election to announce this is priceless.

If nutley would have got in the number of layoffs would have been tripled

[HyperMOA]

Originally Posted by MountainTi

If nutley would have got in the number of layoffs would have been tripled

And from all the producers too.

[Hooter]

Originally Posted by elkhunter11

I worked for Syncrude for 35 years, and I agree, they could easily do as much or more with 10% fewer employees. From the start they had people that really did nothing, and it just got worse with the 21st century virtue signaling. Unfortunately, I don't see the virtue signaling not being a huge factor in which employees become unemployed.

It will be interesting to see which people are let go. In the last round of layoffs (Q3 2022) about 400 people were let go or redeployed throughout Syncrude’s operation. I asked a manager on site if she felt the “right” people were let go. She said that the people she knew of definitely weren’t good performers, but that there probably should have been others that should have been let go first.

As long as they put some thought in to who is laid off (ie low performers or people in non-value added positions) then I’m actually in favour of it. I just hope it’s not purely based on title or position because that’s where good people inadvertently get caught in the cross fire.

[Big Grey Wolf]

Worked for both Syncrude and Suncor. All oil companies calculated number of employees per barrel. Board rooms totally frustrated that Oilsands have such high numbers. They cannot get their heads around the fact that they are running a Mining Operation, not drill hole in ground.

[elkhunter11]

Originally Posted by Hooter

It will be interesting to see which people are let go. In the last round of layoffs (Q3 2022) about 400 people were let go or redeployed throughout Syncrude’s operation. I asked a manager on site if she felt the “right” people were let go. She said that the people she knew of definitely weren’t good performers, but that there probably should have been others that should have been let go first.

As long as they put some thought in to who is laid off (ie low performers or people in non-value added positions) then I’m actually in favour of it. I just hope it’s not purely based on title or position because that’s where good people inadvertently get caught in the cross fire.

Race, sex, and other demographics, will definitely be a factor. There are quotas that will be maintained.

[WinefredCommander]

Good! Hope to see my portfolio rise exponentially! Good friend in Fort Mac who’s a HDM and says suncor is full of idiots? Just deadweight losers? As a substantial investor this is NOT what I want to hear..

[Hooter]

Originally Posted by elkhunter11

Race, sex, and other demographics, will definitely be a factor. There are quotas that will be maintained.

Yea, I agree…and that’s why sometimes people that should be fired aren’t, and others that shouldn’t get fired are.

[59whiskers]

Originally Posted by LSLAKER

Suncor is owned by individual share holders like myself. Suncor has been a part of my RRSP portfolio for many years and has done me well. I had to work hard for the money needed to purchase Suncor and many other corporate company shares. There has been and continues to be a level of risk when owing corporate shares. I have taken adjustments from time to time but quality corporate shares do recover if one is patient. I want my corporate company shares to be profitable and that is why I have them.

There likely isn't a pension plan that isn't funded to a great extent by the increasing value of corporate shares and the dividends that they produce.

Have held Suncor stock for years on a drip program in a RRSP. Layoffs are tough on younger people when there is a corporate correction. If there a significant increase in share value I will unload this stock, I hope.

[TBark]

Interesting when you say “wondering which employees could be let go”

I was working at Shell Scotford aprx 7-8 years ago, a big nasty storm coming from the west, sky was dark dark, ‘twas about this time of the year.
Security announced recommended that any non-essential personnel should leave for home after discussion with their supervisors.

A few maintenance dudes and an engineer or two were smirking at us operators because they got to go home early.

We simply replied back and said “did you hear what they called you”?

And yes a few years later, I believe it was 2016, major cuts came to day staff and very little effect on the operators.

TBark

[Hooter]

Originally Posted by TBark

Interesting when you say “wondering which employees could be let go”

I was working at Shell Scotford aprx 7-8 years ago, a big nasty storm coming from the west, sky was dark dark, ‘twas about this time of the year.
Security announced recommended that any non-essential personnel should leave for home after discussion with their supervisors.

A few maintenance dudes and an engineer or two were smirking at us operators because they got to go home early.

We simply replied back and said “did you hear what they called you”?

And yes a few years later, I believe it was 2016, major cuts came to day staff and very little effect on the operators.

TBark

Throughout the layoffs we’ve had so far, the safest positions have been the panel operators, HEOs, and field operators. You can’t run a mining, extraction, and upgrading operation without those folks. Engineers, project managers, HR, Procurement, managers and similar types of positions are the ones that have been, and likely will be, thinned out. Just my opinion, but I’ll bet I’m correct.

[hayseed]

When a company has a ton of people with engineering degrees, doing nothing but making coffee, and money…. She’s go time.

And that’s from one of my buddies first hand, and he’s one of them.

[jthoward11]

I'm not sure of the accuracy, but I've heard that the article is a little skewed. 1500 jobs are being cut, yes. However, most of those individuals are being moved to a different position, repurposed basically.

[aragor764]

Originally Posted by Hooter

I’m shocked and disappointed if people actually think this has anything to do with the recent election. I work for Syncrude, now operated by Suncor, and the executive leadership team has been saying we’re not cost competitive compared to other producers in the region for a long time. We’ve been hearing for a year and a half that layoffs were coming (some of which were last year and now more coming this year), so no, this has absolutely nothing to do with the election. It’s a coincidence at best.

Rich Kruger, in my opinion, was brought in to increase share price and reduce costs by eliminating non-value work. I could post the email we all received yesterday afternoon but not sure that’s in my best interest. Suffice to say it costs us way too much money to produce a barrel of oil. Period.

In the end, yes, Suncor does make a lot of money, but that doesn’t mean that they shouldn’t run the most efficient and profitable company possible. It doesn’t matter if you have 16 employees or 16,000 employees, you’re in business to make money.

I do agree that Suncor’s safety record is abysmal, and that’s THE reason Mark Little was removed. We have a long way to go, but I can’t say I disagree that some fat needs to be trimmed, as long as it’s the “right” people that are laid off because there’s 10% of my department that could be fired with absolutely no effect on our output. Part of me actually hopes we get rid of some dead wood….

I completely agree with that statement, I have been working for Suncor since 2014 and I live in Fort Mac, the new CEO needs to reduce costs, plain and simple.

[6.5 shooter]

Deadmonton just needs to keep voting Orange and things will magically fix themselves.

[elkhunter11]

Originally Posted by 6.5 shooter

Deadmonton just needs to keep voting Orange and things will magically fix themselves.

Exactly! 1500 jobs lost will become 150,000, jobs lost, under the anti oil ndp/liberals.

[HVA7mm]

Our corporation offered 4000 early retirement/departure packages in the last two weeks. The packages are voluntary, for now anyway.

[elkhunter11]

Originally Posted by HVA7mm

Our corporation offered 4000 early retirement/departure packages in the last two weeks. The packages are voluntary, for now anyway.

When oil prices tanked in the late 80s, our company offered early retirement incentives, where a person could retire at 52-1/2 years instead of 55, and the early retirement penalty was waived. I was hoping for something similar, when I was 52, but it never happened. Many people did accept the early retirement, but some refused, and when oil prices rebounded, the offer disappeared.

[Ackleyman]

Originally Posted by Sleddawg

They have a pretty bad safety record over there. I can’t think of a recent oilfield death that wasn’t at Suncor

Punt half the Safety dogs and HR. There is a problem how jobs are performed and monitored and if the individual is actually qualified. When you have people getting killed it is hard to argue with.
All the fluffy paper doesn't cut it. While their at it gas half of the daisy sniffer environmental doggers. Probably get close to your layoff number.

[MountainTi]

Originally Posted by Ackleyman

Punt half the Safety dogs and HR. There is a problem how jobs are performed and monitored and if the individual is actually qualified. When you have people getting killed it is hard to argue with.
All the fluffy paper doesn't cut it. While their at it gas half of the daisy sniffer environmental doggers. Probably get close to your layoff number.

Lot of dead weight in these big companies, and half of it is in HSE.

[Hooter]

Originally Posted by jthoward11

I'm not sure of the accuracy, but I've heard that the article is a little skewed. 1500 jobs are being cut, yes. However, most of those individuals are being moved to a different position, repurposed basically.

Nope, the 1500 jobs are layoffs, not redeployment. Suncor is adamant they need to reduce workforce by 1500 and spending by $400M. Yes, $400M…that’s not a typo.

The next 6 months will be interesting….

[pikergolf]

Originally Posted by Moe

Bingo! You hit the nail on the head. Trickle down economics doesn't work, most of the money trickles down into the greedy guys pocket and we get pennies.

So in your mind it's businesses job to keep you happy? Maybe take some responsibility for your own life?

[Hooter]

Just found out that there will be 3 rounds of layoffs. The first will start this week and be completed by the end of June, the next round in September, and the final round in November. I think this first round will clarify which areas/departments are being targeted….

[big zeke]

Sorry for the affected staff but the new prez had to do something with quick results and this is the only sure way to affect the P&L. Some of these folks will have a tough time replacing their income, big oil tends to pay OK with decent benefits, few others do

Just waiting to see who will follow suit (CVE, I'm looking at you), doubt CNRL has much to trim, they prune the org chart very regularly and it shows.

I just don't want to hear employers whining about staff loyalty, these moves (while necessary) erode commitment levels.

[Homesteader]

Originally Posted by Hooter

Just found out that there will be 3 rounds of layoffs. The first will start this week and be completed by the end of June, the next round in September, and the final round in November. I think this first round will clarify which areas/departments are being targeted….

Any idea on if/what packages will be? 2 weeks a year seems pretty standard, but some places give more, and some less. Working notice is also an option I believe, but most companies don't go that route.

[Hooter]

Originally Posted by Homesteader

Any idea on if/what packages will be? 2 weeks a year seems pretty standard, but some places give more, and some less. Working notice is also an option I believe, but most companies don't go that route.

No word yet on any kind of packages. I know some folks that are 53+ are hoping for something, but I don’t see that happening. My guess is they look at forcing retirements, then trimming down embedded contractors, then firing low performers, likely in that order…

[Smokinyotes]

Originally Posted by Homesteader

Any idea on if/what packages will be? 2 weeks a year seems pretty standard, but some places give more, and some less. Working notice is also an option I believe, but most companies don't go that route.

Don’t worry. With you having over 60 year’s employment at your job you should get a great package.

[aragor764]

D-day for layoffs is usually Wednesday's...so we shall see tmw