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Suncor to lay off another 1,000 workers
' k ~. _$ M% q# i e" ~Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST7 R) h1 F# j9 {$ D' X. \4 p
Canwest news service ^5 y% b# ^- `/ [: @
0 M2 y. g+ z9 Q6 z- B/ [; ^4 N( yCALGARY -- 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.! D, ]/ I, ^) |
' I9 Y5 B* ~/ ~3 \# N# ?/ jThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.7 O# y( r9 }/ r0 w/ N
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' _) T: a- Y+ l% j* y2 V+ [- d" G; g+ C"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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: U' `: H! S _"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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w" t$ L7 c' Q( m4 t, YMr. 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.! e% F' f; c& B8 |+ G
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& \- T7 x+ V9 j7 L0 {9 FSuncor 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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