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Suncor to lay off another 1,000 workers5 i2 q+ h: u, K; k6 [
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
) x# H7 Q* M7 {6 I1 J& sCanwest news service3 b" X# f0 K, a3 g+ l
G' k0 o1 [5 d+ Q* \' xCALGARY -- 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.+ Q2 K9 _ S$ t9 i4 T% h
5 X/ { ~# R6 z/ O0 JThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.( f% U7 W5 n) P7 h3 s7 _' L
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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.
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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."
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- L( Q& m/ r4 ? W5 ]4 CMr. 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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! M7 O+ [! M: x( a5 USuncor 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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