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Suncor to lay off another 1,000 workers
1 ?; ]9 d, K, C# Z6 WLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST5 Z* {. ^3 {% A
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.$ d1 {' p; N3 z) _( F0 Q H
& Z1 H. j9 G! C# `8 b X! bThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.* C# d0 m6 C9 y4 ]1 P( s% N
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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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5 ?1 z2 k2 B2 s }. _"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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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 $25-million.5 q/ [7 j' u( H! J9 L. y F
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' G- S- f- G$ k: v) r' hSuncor 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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