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Suncor to lay off another 1,000 workers
% E( y8 w7 A# o; R4 nLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST+ T2 M; L! l# l+ U
Canwest news service
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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.
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! f- Y. Q, Y" m t. x) F"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. n; H9 w9 ^9 n6 ]1 t# `2 ~
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" M; U: ^" |. X& {! w; u# d"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."* c& j4 W. s$ S- _3 Q# X/ x
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$ p( Z) t7 p' A. s! r, m2 AMr. 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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/ D. s3 o- _2 R# q w1 _3 a rSuncor 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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