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Suncor to lay off another 1,000 workers( o( k4 k! P' u6 j2 `
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
2 T2 ~% k, D+ p* e0 U/ }& t+ oCanwest news service* N% f8 l) H' [. @; b; a, I
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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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3 u$ G- [0 v1 C. b" ?The 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.
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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."
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! e5 o% p* b+ H( d3 n( j3 e6 eMr. 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 $25-million.1 }2 u) Z" w* P/ b2 g8 l
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7 ~* Q+ f+ R- c3 [, u7 A$ kSuncor 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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