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Suncor to lay off another 1,000 workers. y+ T0 ]6 ?* Y3 |* D+ Q3 t
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
2 w, a' G( O5 E' N6 ]( dCanwest news service! e5 B( l( ^2 [9 c
+ p0 q1 Z, f; [+ g. V( E6 \0 iCALGARY -- 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.* _) T$ H% {/ N
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The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.7 U4 j# V. B/ Z+ J) X
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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.# D" N/ l* s: {& }
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9 w- N. C) u0 G4 e3 _: T6 g8 Y"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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Mr. 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.4 ]2 D6 L9 i* u) B7 r6 J4 A& G( r
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`3 f* c" g6 X6 Q! p% N) N0 wSuncor 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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