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Suncor to lay off another 1,000 workers
0 @1 @, C7 J( m. x. QLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
/ K( Q) M( F. JCanwest news service2 I G! i& _% E1 a
' g( _4 ~4 F' I1 n# hCALGARY -- 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.0 m# C/ b8 [( [0 g) u' l
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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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# j3 w8 j9 o1 k n5 V9 y"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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. |$ j& b& q. Q$ w3 ^/ Q2 c"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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$ t$ G' O7 H9 R/ U7 }0 x; SMr. 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 $25-million.! n2 H# c0 g* I& H2 t8 |
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8 }. Q( _$ e/ Y. W+ PSuncor 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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