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Suncor to lay off another 1,000 workers1 u* M6 ^7 X' \/ x! I0 R
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
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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 2,000.3 G e" E( V0 u3 h! P
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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.2 R; [2 v. ^4 o+ F% b
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4 u9 Q. [% K. _"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 ^2 A( s5 L- Q) Q2 ]
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4 }* C: C! g e) V) y& ^1 |4 H6 zMr. 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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9 C2 o* Q: l9 Z7 o0 w! W; p3 {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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