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Suncor to lay off another 1,000 workers+ D( W2 m/ t) F7 z, y
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
1 f$ J" B) j |Canwest news service) j3 E- D e/ H8 ^* ~# c
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CALGARY -- 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.) e1 C( s: w; O' y1 m9 u: g3 A
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The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.6 \! K c/ A/ c+ C! {
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) y: w7 t; ]" B0 Z8 a) w8 @8 i( i"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.9 `! p* O, o% n Q) z
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; W8 J( r: K4 i" j8 s3 i+ d' n"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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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./ _5 w& q5 {) o, ]0 K
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Suncor 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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