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Suncor to lay off another 1,000 workers
* F( j. x0 q+ `/ NLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST3 V( P q/ ]" p/ C* w% ~
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.! ?2 F1 R5 i2 R# a h8 V
, _/ K" d5 t& n6 n5 H% A! Q- rThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.
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3 O) h9 T/ l. D- k7 W7 A"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."$ h* h/ k# f8 N" m0 t6 D* @
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+ b: Z7 X s t2 z* M' hMr. 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.1 u3 e/ Z! t9 Q6 {7 K& H' u5 V
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/ x9 W: W( {4 B8 b: rSuncor 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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