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Suncor to lay off another 1,000 workers
5 G% t9 d9 D1 m! L p" _Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST; A2 V8 R, w5 P0 Z8 u$ D
Canwest news service( S& a. [5 w, a. ]" n
( H6 y/ U' {7 f+ ]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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The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.( r! m* z2 n) s1 c7 c& L
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8 \9 ~6 |4 b. O/ P* o2 I"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., z9 y8 Y2 R4 t+ P7 b5 U, d6 U
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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."" |8 s; K& Q' [2 ^$ r& q: ~( A; p6 u; c
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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 $25-million.
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8 ]. a& E f& u( i9 O4 e$ bSuncor 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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