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Suncor to lay off another 1,000 workers" h4 {; L9 ?4 G( q! C3 S
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
0 {8 w! g3 G0 H3 O% B/ v' jCanwest news service; B4 e m K( Y+ v
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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.0 d/ z6 h' O3 t0 M5 B
$ w' w2 ?2 X8 I8 g! G. CThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.
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9 n$ i" T) ~1 \5 p* V# `"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.; I9 o3 C& |2 K0 R3 v; M
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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 $25-million.
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; m/ k; o2 w P, U$ G( k: sSuncor 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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