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Suncor to lay off another 1,000 workers4 H1 z% F. t- @' w, Y4 f8 W4 n
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST% X" X" \ g5 B, b, g* d
Canwest news service
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/ D2 \* v- X' Y" ^9 [$ [# J, @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.0 }* q, W$ b( _ m
- h- U% M0 g3 H/ U+ n" BThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.0 K) @- a6 g$ H! I5 l( t; _ n
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: Y0 ]+ w4 }1 c6 R: F% 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.
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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."
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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.0 A- q% M/ E% m8 r* e. v; _+ F
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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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