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Suncor to lay off another 1,000 workers$ o+ U0 j% W, f% l7 M6 S! Z
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
; v+ G( M' V7 S, T! K6 d# bCanwest news service6 N( C/ j) [# Z: z, _
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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.
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5 K6 d0 c; N5 R6 s5 V6 W"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.6 q" n0 U+ q* J
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$ C1 R8 e% H0 {9 D"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.# Q# x# D8 @/ U7 z2 ~ W
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?# D) y! S1 s, g4 N p6 ]" @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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