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Suncor to lay off another 1,000 workers* R# i, y8 i, R' W
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
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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.( R7 s$ `; q1 X5 ]. @( v2 H/ {+ [
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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.) c9 p5 {0 N- ~& [( y2 @: _. ~
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! o; K7 r2 G, `) l9 a"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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6 s, P7 R6 p: q" z"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."* \# I; e- a' [$ [* X2 m( E
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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.
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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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