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Suncor to lay off another 1,000 workers
) }- Z$ d8 n* C( X2 ]8 pLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
. y' Z v" \+ m. E# W* V6 dCanwest 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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" J0 W' e: s( I8 K$ H3 e' \: h# t, gThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.
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+ k# H6 t v) l* h"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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"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."4 _ c' r- y) s5 [% C/ v" |8 [
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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.) `7 p! G4 o) d9 h! W
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& N, O& T. C+ N0 e9 c; l+ x0 i2 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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