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Suncor to lay off another 1,000 workers
5 s' w7 m8 e# ^& `. lLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
% V) `0 M( X2 SCanwest news service( F2 W: i6 o$ b+ s3 {$ S. K2 c+ n: `
+ E1 ?- G7 l9 o$ Y- Y P4 F1 _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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* }& d7 W2 P$ P# J+ jThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.
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4 }. B1 d7 L5 ~"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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: ^ |# O! I: b6 n"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." A% i1 M% o: v* [9 |$ ?
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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.& p- y: A B* {; t6 @8 L
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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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