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Suncor to lay off another 1,000 workers- j1 x7 X( r/ y( o5 g2 q' ?. \
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
u# h* f1 g: O, G0 X) fCanwest news service6 J# E8 w& k W1 J! Z
$ P1 a* A- m M0 ?2 j# MCALGARY -- Calgary-based Suncor Energy plans to lay off another 1,000 workers this year as it continues to digest the assets of Petro-Canada picked up in a merger last fall.+ A7 N+ k7 R" K* _/ {
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The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.8 e7 w; _& K" @+ k) ]
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1 X. |0 X6 d d6 \- p1 g; a! H"Where most of the synergies are coming from are reduction and workforce," said John Rogers, vice-president of investor relations, during a presentation to the BMO Capital Markets Unconventional Resource Conference.; S. e; S7 F4 G I7 F
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% T7 _2 Q3 u2 y. w# v# ?$ u"To date, we've laid off about 1,000 people. By the end of this year, 2010, we would expect we'd lay off an additional 1,000, which will bring us to a total of about 2,000 people laid off through the merger."
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& r) b5 m& b S' H* `0 |Mr. Rogers also said the company is doing a "total relook" at the Fort Hills oil sands project, a Petro-Canada project which at one time was estimated to cost more than $25-million.
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7 A- `# i9 ]" B2 ?! q D- ASuncor recently announced the sale of a half-billion dollars worth of U.S. gas assets and expects this year to sell $2-billion to $3-billion worth of Canadian assets producing 360 million cubic feet per day of natural gas. |
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