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Suncor to lay off another 1,000 workers) H5 R/ s# Y& Z8 y
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
9 z! z0 q/ ~( b- dCanwest news service: I& o) F+ V/ E( S2 v5 \
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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 G$ m5 i& e1 x2 ]' w. K+ G5 t
4 q$ N' m% m1 r0 Q! BThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.
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0 D% s7 ?: Z9 B0 ]4 J7 s"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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- P- O% T. E% Z0 P z# u5 b2 q! P"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."+ j0 V3 a) I! A7 W5 @0 @# l. u8 b
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' R" u$ y/ X: k+ |. R% kMr. 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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7 \5 `* m% k4 w% N, c5 d% vSuncor 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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