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Suncor to lay off another 1,000 workers
) K6 c @; `! H& o0 RLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST* @7 J( M. V' A0 j* w8 B" f# G1 K
Canwest news service0 G" r& n7 @% c: p! k' q
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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.
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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.* K! T6 M/ e- K) a
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) [4 d% P+ E; a: |0 o2 W"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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4 _6 l" M7 J+ U r"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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0 ?: R& n7 r2 {% C! ?# k5 xMr. 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. V" C" @2 F7 Z7 v
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# H/ j; C0 [7 F* T6 ZSuncor 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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