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Suncor to lay off another 1,000 workers
8 d# C3 p) Y& K/ gLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST# h, h8 Q- s" u
Canwest news service
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# h, W4 ?5 D3 t( J& {) E9 oCALGARY -- 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.
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4 V" m8 }) o+ n"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.1 b L `( U/ s h4 k0 E
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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."( a) s, f% ] j' A
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5 z, r8 o6 V) W: |6 z7 p0 aMr. 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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