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Suncor to lay off another 1,000 workers: f2 [+ n7 L4 z
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
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, G5 n6 {. t& A6 T6 n" vCALGARY -- 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." ]% ?+ L6 a5 [9 ^/ ^5 i
; ~- D9 T+ W: r" f& P$ H/ ]8 b' j BThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.2 v# Q' E% v# L2 f. U6 J4 B
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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."# J* \0 O: \ E' w( b
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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 $25-million.. {$ p1 w! R+ w, i8 `
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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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