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Suncor to lay off another 1,000 workers
( X. T1 g- ^" p8 d/ S# B4 ^4 f+ P* MLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
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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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The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.) S: j F" Q/ ?/ s0 V! o( s5 J' g% \
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% d5 W2 g" k; M' L% w# C* 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.
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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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% z8 [" s+ ~9 x# M& _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 $25-million.
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1 K4 X2 f* D$ z. G. YSuncor 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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