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Suncor to lay off another 1,000 workers
2 R5 M3 u7 O! c! zLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
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8 I9 j* ~3 v. UCALGARY -- 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.6 I8 \& z3 c3 m( C, Z. X6 [+ d
9 W7 b+ |, F/ t% c- u: qThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.
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; z% t2 N8 P% c' f/ \"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.
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"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 $25-million.0 C) M7 w$ T( r/ {. e/ ~: c' |
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! L( i9 r" q+ ^" v4 m4 T- MSuncor 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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