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Suncor to lay off another 1,000 workers
- x4 k5 b3 W' U8 P, ]Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
* z. i& f, [/ Z; J) P$ xCanwest news service: f5 Y& W& M) \! H6 k' C0 O
- T1 f) N: z6 T/ d0 h1 Q! dCALGARY -- 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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+ |5 R, N* c- n8 Z7 D n- a" k+ }The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000., S. D0 u8 _/ N1 n3 k
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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.1 c% \# S' U P' e" x1 I- d+ X
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; ~+ ?' e+ | _1 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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7 K( B, D' f D9 p5 a% ~( w& rMr. 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.( T& N2 I6 b3 j
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: M% X( ?4 i- _& {- h6 l. mSuncor 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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