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Suncor to lay off another 1,000 workers
: c' y( f- \" G2 `# d: O+ tLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST& d+ k V* y# u+ P* b
Canwest news service
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' w. x3 U) @+ A3 F( `2 xCALGARY -- 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.
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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.9 X2 P- B4 {9 y8 D5 Y
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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."
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: e. ?1 m$ t7 d$ x% p7 S/ zMr. 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 $25-million.8 o4 U) k8 b& P& p8 U7 e- F% {# R
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) T6 b0 [1 c0 P$ ISuncor 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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