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Suncor to lay off another 1,000 workers
7 x" B% Q; j0 e( M9 y$ _: W' SLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
3 I+ @4 ~1 q) H% KCanwest news service
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* \& n$ E+ h6 u( f& @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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" W# V; d% c9 C3 j$ ^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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- b$ z7 T: l9 W- x0 R& {"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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0 K7 B6 n9 m) N"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."
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. a3 g& B0 m. r. Y- _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.: t/ y0 V. t4 |3 g* [
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' Y' G: I) c; `' y5 C# @& c8 t8 a" R4 ?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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