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Suncor to lay off another 1,000 workers, q( d3 g) E; f% m) o2 o# X9 v4 ]
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
7 f/ r9 p7 m0 H) z- R- qCanwest 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.2 }. y9 G3 V: w$ Z
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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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: G3 y8 n5 T4 U" a' P1 K" C"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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"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."' K) C/ S2 B5 v5 _
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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.6 Z( Y9 _8 b4 x8 f
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( _0 M: `2 e0 B( }* ~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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