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Suncor to lay off another 1,000 workers+ S. n2 o* e) U% ?4 @- ~' _
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST) t. E- s1 W: b6 v
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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) U5 k! R% ?/ @ H* U9 j1 UThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.* h: J2 x7 H. v2 E" V
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4 t$ L8 h7 i9 ]. J4 _! g3 z"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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, \" Y5 w* `0 L# K6 H"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."1 F: p4 J A0 ]
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, X6 u8 i6 X6 D. x& ^4 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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Suncor 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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