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Suncor to lay off another 1,000 workers
/ w2 @8 D, N% M5 {$ @Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST7 ~9 X$ ` E1 k& L8 F/ h3 L
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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The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.1 J7 X# H2 t6 r0 D
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; o- A0 w8 N7 y+ z" L5 V"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."/ u- ?, n! ^4 s& r. r. t, @
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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." R C1 l+ _( x. s
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3 x9 p1 ]+ v9 PSuncor 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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