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Suncor to lay off another 1,000 workers
, D( `+ k* J: c9 `8 jLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST/ a% P0 X. W" v5 [8 W) \& ~' L8 {
Canwest news service! s3 [- y( f F, z8 o' k5 y
% n- Y4 q5 S8 X+ l1 P! e2 MCALGARY -- 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.
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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.% c' Z9 y; k/ R: t5 P8 t3 t
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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.% a# s( E) z7 U: p. N7 `
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# {2 E }' Z' F' {3 s( s, W- ~"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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" [3 @- i- A p9 ? g+ I1 VMr. 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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Suncor 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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