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Suncor to lay off another 1,000 workers
1 y" e' |: j8 m- d# ^Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST- w( V, ?; d( k
Canwest news service+ h [* j2 |9 a; H& ?: n/ r: j
. |: z9 @9 n' a7 o& h! g4 d a: iCALGARY -- 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.9 Z. ^4 M- a1 i4 Z4 Y
7 L/ P3 T9 n5 ^$ v$ f6 r1 v, VThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.
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( L9 n: E, u6 b"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 J$ G: p) H1 Y" Z8 W
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: |. j w6 s6 g2 ?1 |2 g7 R"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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" h4 ~# C- T9 O- ]Mr. 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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! O2 e/ H2 z7 W9 |& ]" q8 CSuncor 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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