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Suncor to lay off another 1,000 workers _1 F2 K3 a% I5 }7 D& U( P }: \
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
/ @# d' v+ W% LCanwest news service" [9 C. K% d) v, }/ t4 T
" a& }/ z3 D* f, C6 i9 c* R2 YCALGARY -- 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.! h) U9 d# A; C0 d% |' M
* z( V4 _+ n% \) V" j1 aThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.- V$ O' h, y7 B \
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"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."6 f1 Z" `2 B, w8 \9 }1 V: A7 s! q/ c
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# q3 z5 A; o( F! B$ cMr. 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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" }& J6 k* m; ~2 Q, tSuncor 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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