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Suncor to lay off another 1,000 workers
" x, s6 D0 [; B$ FLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST( b" ~# j! u2 T+ h! `
Canwest news service6 U, R3 E( n7 `- S* h0 I
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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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! ?" D! h, f7 H, \# R& bThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.! u1 J9 K% n& G m a+ ], [/ @
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T2 c8 x4 p6 {' f+ l; @, l) Q5 `# i6 f"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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, c: w8 M+ g/ \7 A5 j5 w"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."3 d: T' h. i) } l* e% P& V
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f4 H1 ]* H2 @$ _* q' KMr. 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.1 G4 O2 Z) ~3 {( O) }/ T
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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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