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Suncor to lay off another 1,000 workers
* k. T4 S$ S' VLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
# T7 X K8 X6 F. S/ d& R2 I- CCanwest news service+ D$ T8 {* M) t% d6 {
: N: G! n i3 d- r1 A$ ?8 \0 h2 tCALGARY -- 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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1 H4 w' p K; D( ^ x# v! i lThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.. M: D5 j- r0 n7 F9 `9 y4 q( Y# y
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: B% \& K2 Y7 K0 o# i"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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$ Y5 [! v& ^+ ^1 d* j2 j' G"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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9 G8 l; F% U5 j% @2 ]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 $25-million.# z$ ^. `. [ E
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" }2 x; E7 U- g u' V2 zSuncor 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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