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Suncor to lay off another 1,000 workers) d8 u, F1 n" N* ~& U
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
( G8 D0 `6 _) Z) ~Canwest news service; y3 |/ I \; u/ U
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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.5 W4 O/ F- A6 K! u
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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.! f/ ~7 ?' x8 k2 y/ p( B# o
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, ^6 J" u/ j8 _8 G) ^"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.; @# E v, y$ u$ [
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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."2 L# N: N2 t# u' ]! T
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0 M% a Z" ~% d2 q$ y3 fMr. 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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) b* o+ b8 V) k9 JSuncor 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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