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Suncor to lay off another 1,000 workers
8 z3 u. ?6 |+ Q& {Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
5 O& I0 @; m0 [0 r# BCanwest news service0 a3 M1 d0 I+ Y; R: X3 [
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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.' p6 _/ Z% `& q( e# 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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"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.6 L) w) J8 x- s! \; c E5 Q$ ~
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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."; d1 s- g2 ^% i6 |2 K, J, n# R
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/ s3 h1 ^ H, W6 O+ @% BMr. 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.* U, x. L, C- r3 S: f
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3 b1 u2 C" N/ j! T, t; `7 O4 e, JSuncor 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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