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Suncor to lay off another 1,000 workers
8 m: y3 `) f4 ]7 @' [% lLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
9 K+ m1 O* O4 m5 Y0 T8 g& ]) V6 gCanwest news service3 L( {- }4 V/ B1 X; t- r
" N( z! _+ i) _/ s" \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., |" |4 L5 A! f) X; f
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% O0 }. G7 ~4 _& ]2 e"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.- k( z$ {* X; E8 ?
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- E% f" a" O5 z: B"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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9 P; a, ?! x, X9 r0 G3 l& BMr. 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.& K( f" E* ?# ^# w8 L) Y
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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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