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Suncor to lay off another 1,000 workers
) H2 R. y( V; S9 l$ [ B) pLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST' J! {+ u# L: M: c8 ~
Canwest news service/ L* ^& t3 V( f$ W! q' ~; |6 u
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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.: i1 }: k9 |8 E1 T
( q5 c% [, B) h- e9 z6 L, w' @The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.2 {1 F- L$ j2 P6 D) }: H
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1 N* E* z' M" X8 _, Y% c* b"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.8 u3 K! s* _4 D) ]2 ?1 Z
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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."' g$ R7 l; P" M. ^" ], G
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2 C) `; X, ~7 K- _% L2 D# RMr. 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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