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Suncor to lay off another 1,000 workers1 R3 k) Q1 P t
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST/ ^1 c' M" f0 B! k3 K& p0 F" k+ a
Canwest news service: o B' ]& A9 F4 J% `+ k! d# g* `
% m# `6 a7 F# _5 |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 2,000.2 j" k, o0 G9 d) N
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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.3 K3 S3 D- @/ R, X2 B' c7 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."' `& j) p4 ^8 g( g6 y
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+ z4 e# M8 Z4 a7 b! M% O! h6 d( \0 NMr. 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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