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Suncor to lay off another 1,000 workers
! d4 ]5 R8 K6 i) F5 fLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST8 E0 O" G& B" c; Q1 A( Z
Canwest news service
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' K5 B# ^$ y* P$ S. Q6 l8 X: LCALGARY -- 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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7 r0 N4 J* K1 p' k0 E6 |. G# X2 hThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.
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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.
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4 R/ u. c3 o- ~3 [& l( ^"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.". z5 `' G; O- `6 U; U
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% x2 E, `# H' ]) j* XMr. 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.
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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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