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Suncor to lay off another 1,000 workers8 Z1 D2 i! r: z( Y" Z
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
) |# t5 \$ Y5 FCanwest news service4 q) v" A( V7 Z2 ?% U' n
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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.+ f" M) W; i3 B- M- ]* e
& e8 q. V) Y& i) b5 vThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.1 G* |1 Q# S- {, J' c. W
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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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7 ]' b0 \! T4 q0 D2 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 $25-million.# z: D4 f6 x% H: C1 K$ V
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' W1 E6 w# _+ `" `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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