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Suncor to lay off another 1,000 workers9 x5 N) |% V8 |* p8 M7 K
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
0 B0 C) w, A# B+ bCanwest news service* y3 m3 z% i% d4 i4 D
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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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/ s$ b1 {7 M. J. a" V) D `) r. bThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.+ C4 P/ s& |% ^+ w
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, @5 u/ T Z+ R1 t"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." s) R+ N4 L5 `# m3 ^
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3 g6 ?" U5 F- Y4 R, V$ K; N) iMr. 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.5 l4 Z; y. Q. x* d" e. ~* X
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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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