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Suncor to lay off another 1,000 workers- i9 W- \$ _& ^. H) G9 C: c
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST. \ I" N' u1 K
Canwest news service
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( t8 F( b! u$ r- DCALGARY -- 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.7 p# [, @3 ^; M: b1 A$ | \+ t
" B- L. b9 @# A8 ]" kThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000./ T% D6 N* E, k% t5 n
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4 ~( I6 P% v: a8 A7 @* 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.2 U; ]7 h s* e6 v& A# Y
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# i* A* g2 w4 M j" 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.". e$ B2 z+ U& y/ h/ k7 R
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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 $25-million.8 w% N. J$ O! F6 q
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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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