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Suncor to lay off another 1,000 workers' z) I1 C( M; \3 ~: {0 W
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
4 y/ M% K F' |' e& k( yCanwest news service
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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.
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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.. L5 N% C' R7 l0 m3 I* \4 F. J
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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.7 G' Q, ?6 d3 B2 L
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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."; M/ g {1 i9 j6 d) ~* ^" E. ]
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& q! Y) m2 ?: _2 GMr. 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.! L% S* K6 r8 N
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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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