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Suncor to lay off another 1,000 workers
3 @. o' b. |' L3 u- eLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
5 u1 K5 F, g4 B# w; O/ zCanwest news service2 |! k! X/ ^, i0 f" ?6 z5 r
) n7 _; z) z% P6 z* |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.
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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.) f2 F0 o# W' p
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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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"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."" }2 ~' U3 T' K- w3 G# o
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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.; X& ?% H. l" t. ^( L# z. }: S
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' p1 }! ~2 ]" J! ? s7 _9 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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