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Suncor to lay off another 1,000 workers( \& Y9 l. I. g3 ]+ d
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
1 O' U( J1 k. h( rCanwest news service2 o& Z; `- S, u+ D* P( {1 A
, u! v `1 [" X3 o* d, A3 x% ^- F7 kCALGARY -- 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.0 I, Y! l& t' V6 J7 K$ m2 I
5 V( q& ]% G4 h) \; v5 W4 wThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000. E- ]0 q, S! ^
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+ p5 J! q7 D0 L; _"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.& K" o* o% C1 x' C) Y' i9 `
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- t- [6 K0 k A0 T) g4 T8 @"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.
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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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