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Suncor to lay off another 1,000 workers6 G5 n$ p+ j7 S c& V6 f
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
# L$ s( |( M! E( T ]Canwest news service8 W( @8 z% N) u1 \; }
2 n, G9 `! W) L7 q* J9 eCALGARY -- 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." S) u& b* u0 p- g! O
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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 r# D4 @" z/ ] n4 Y& r3 f"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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% @8 E1 ]+ \- M$ S1 z2 | G"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."% O3 p- M* P8 K! I+ E
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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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; `" a+ {; s! k" O) eSuncor 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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