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Suncor to lay off another 1,000 workers" }1 B' d3 y9 X M$ S$ i L) B
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
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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.! G; V4 B8 w. V% \* z7 g* `- h5 D! M! T
( `9 I* T$ z i' v( pThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.+ _1 c! K8 q3 L0 p d+ `( y
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& V$ s: A t$ l. A"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.; n$ I2 G- Z- l$ F
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4 M* q/ c' w' e. f2 b9 ~"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."+ V& G Q" `! n0 c' y+ f. ~" X
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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 $25-million.1 F1 Z! k/ c' B. z
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v$ u% `' X1 M H" q* GSuncor 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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