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Suncor to lay off another 1,000 workers
( u) J$ p- @' r2 Q+ ~' ~Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST, @; k6 U5 {# A" x3 T5 |. X
Canwest 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.
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4 M2 l% |# n" k6 MThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.# X1 j' p( _. o( m+ B* ]
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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.6 J) X$ N( _/ W* G' h( ] a; c5 K
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! |! H8 N& u0 x. W% _' C"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 $25-million.! _* N+ G1 }4 r$ b
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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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