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Suncor to lay off another 1,000 workers
5 B5 H+ b7 Z1 ?0 J$ O# ?, p4 g" rLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST8 t+ |0 W' C; ^
Canwest news service+ S+ n1 e: n; p `1 }+ n4 a+ E, F
7 p4 w4 O+ ]+ ]3 G8 V) W$ G" S' 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.9 D- u, z8 o5 ?! h
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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.% h E0 [0 d3 P4 ^ [+ F
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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.' A9 e# h% c" L# s
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) o8 N' [ S7 ]9 n5 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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+ R8 s6 n/ ~; C5 W+ G7 X! QSuncor 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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