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Suncor to lay off another 1,000 workers. i9 V& u" d. b# a" k, ]% Y
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
# O5 \! `! p! gCanwest 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.6 r5 g) ~+ R) D, C, x- H0 ~
6 O) P; ?+ w9 c% e) l, `The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.+ {. n+ L! B8 t* s9 q% J
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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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& S$ M6 f& q" V3 B% o"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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. W" c8 U, h+ R& nSuncor 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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