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Suncor to lay off another 1,000 workers
# b3 {0 [& @. eLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST7 W- R5 K" y6 \, K; H7 p! |
Canwest news service
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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.6 @5 I& i4 Q5 ?6 Z- M' }2 P9 h }2 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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"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., {: \5 S6 s% J+ D& P
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" j# |* f+ p5 z"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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8 {3 l/ \0 l2 e9 P/ Y" 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 $25-million.
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2 q2 X8 M. k$ J/ ^% K" u# e6 BSuncor 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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