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Suncor to lay off another 1,000 workers
& R5 D6 u: g6 m1 Z+ iLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
% j# s8 f J0 u* mCanwest news service5 E1 t: F" g9 h- @$ Z
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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.# t; r) o, h) e
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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.
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1 @ s4 r5 s$ P' z"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.( Z7 t/ {8 b- I0 L- l: o9 ~
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K" A& r6 s3 {8 g. `8 B"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.
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; h h# ~! }, o& `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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