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Suncor to lay off another 1,000 workers
; o+ |/ t o/ y/ P, t: \0 dLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
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/ x2 G7 V1 c M/ {1 [( _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. r7 M% E- c! Z6 S% x) I# J
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% P1 C0 Y3 {: p+ n! W a0 D# _"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."7 c' U7 E1 M# |8 {9 d8 f
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+ S9 s" T% e- f$ AMr. 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.! w7 p8 T9 l: h
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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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