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Suncor to lay off another 1,000 workers2 |0 M; p; I, Q/ ~8 O
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
; A& v- e5 f$ ~; kCanwest news service1 J" E9 D; v% y$ d
7 `& b$ k q% D+ v8 i, OCALGARY -- 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.+ S9 B4 ?7 X% q4 b* f! e( z% w
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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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"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.& S: g6 j/ o0 ^. C6 i/ B
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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."- A S5 g& c& N! u: R1 l
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; S! k3 v, D+ W9 XMr. 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. E* A) t. M' [/ Z" f5 ]. y' J
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* h0 F# R( `: j+ l7 G" \8 RSuncor 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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