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Suncor to lay off another 1,000 workers2 D* [% g0 [! z5 J) v( O+ j4 b
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST! ]9 a' H4 {9 n+ b" m5 h- y( f
Canwest news service2 H4 ^9 B- _' |( l v
0 j- h- N' ]3 C6 VCALGARY -- 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.; W$ A* a3 P; a/ |7 T8 A) a2 _
! ^. C; f) t# j0 N0 ^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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* c7 P6 [9 S# t' j"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.( g# N. m7 ], _3 H8 n, |5 c: W# i
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, D. ]4 X; `& H$ z4 O, q7 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."
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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.
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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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