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Suncor to lay off another 1,000 workers0 l' r9 f: K' I1 i, C& R
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST3 O! \/ ]- ?! h% q
Canwest news service
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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.
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" U" u3 R* I" I& S$ [3 j" h* ZThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.' {9 d# d5 ]8 o% F) u
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; O' f+ `+ }' K/ ? ^3 q"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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3 r v! E# P( C4 g' D: X" }: OMr. 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 $25-million.8 `) V- s0 ?$ B9 D
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' }$ ]% t: C$ z" d9 y! v z1 j) I) ZSuncor 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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