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Suncor to lay off another 1,000 workers4 M8 u8 E4 Z$ w9 h* L4 d: J! N
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST3 S) s0 U. Z5 N" {! I$ K" G4 t
Canwest news service. ~5 R, c2 j0 C+ `9 R2 s6 Y. _' y
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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.' c/ n- u/ G& g& _* F3 ^& X
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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.) Q7 {' M/ V0 a7 _! ^
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# d5 H8 ?# C. }2 D1 s"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.7 X; K3 R6 L7 B4 U" o
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( k# U8 Q4 m2 h"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 v% d& [1 Q- i! t3 _- a
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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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