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Suncor to lay off another 1,000 workers$ [5 G9 ]) L m$ P, g
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
$ C% ^9 H5 A2 a& kCanwest news service/ a) t% v4 b. Q3 b) {, ?
6 Y& ] v3 K3 r- u3 {0 a) {4 B; _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.& Y! ]5 [& d/ U) {3 N$ X' E
. T* w3 v4 j- s2 X* f" b5 @The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.; c# D( Q7 D" t' j- Y
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) D+ ?/ S, [9 E; `"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."
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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.6 ~+ B1 K+ g5 L N. l0 v
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! ]" N+ c: ^; q6 L" v5 Y/ n! N0 m; ASuncor 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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