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Suncor to lay off another 1,000 workers
0 o/ Z. P( _4 `. l6 nLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST% b2 u P+ v; y' s% q& J
Canwest news service0 U; w, e4 x* U) ?* {! i4 D
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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.3 r& \% n% U7 W! ^) P5 G# ^, }
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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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8 Z# s0 L0 v& P( q"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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9 M! v* F. Y0 p"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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/ o, }8 b) }: \$ w7 D# B1 S+ nMr. 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 $25-million.. [) X/ t# j$ {6 w& x9 D
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& U; a0 W9 b" xSuncor 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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