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Suncor to lay off another 1,000 workers2 @* X0 M3 I6 h3 ~% B
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST" i7 i: @# |: ^+ {3 ]
Canwest news service. t. s( {- I) f% v+ d0 ?# p, e
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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.6 n- O/ A; w4 |. G6 k
3 n) H3 w- ~4 D$ z1 ]: u% { w( [2 QThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.
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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.1 u6 T" Z. Z2 d# Q
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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.", L8 e! F$ Z. X. x! f( N
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. ^' q: E5 o1 E6 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./ X* O2 H: ?1 H+ |2 J }
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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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