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Suncor to lay off another 1,000 workers
) T1 i3 N: h$ l' K7 M; E, k- wLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST z6 i1 S5 j* ^8 b1 l9 i1 A
Canwest news service) R/ s; C5 @' Q$ \! B
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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.$ M, y; K2 i9 K" q. M9 o
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"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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2 K, V: Q. f2 C# 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."; ^; c: B {0 N* U
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8 A( |# ?* w* m/ x- l( cMr. 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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+ @2 }, F( o" m) bSuncor 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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