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Suncor to lay off another 1,000 workers a* e% I! [/ Y/ b8 H( r! t4 M
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
1 U# R9 F0 A; L% R- b6 T. NCanwest news service9 ^" {4 Z! {- i _
7 b+ ~; O0 @# U, |$ D$ H% uCALGARY -- 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.& e" W! X! e3 R5 y7 V: P1 \9 N
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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.
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"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.+ t( M0 h3 H) ~& m! _
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. a1 b/ ` \" A k"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."8 \: d) B. M+ m. R
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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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