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Suncor to lay off another 1,000 workers
# h. v" [$ e- u% r/ ~2 D# x% {5 Q! HLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST5 i( `6 Y1 p. w- u
Canwest news service: T0 f p5 ~* h6 Q% ~0 g% S
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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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% H3 v! |, p0 T5 J2 GThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.
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# u7 W, v2 ^1 B4 ?7 c7 ~"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.0 Z$ g( D/ H- q/ B6 f7 P
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; D x( k7 v; s! R0 Q3 P"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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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 $25-million.
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$ z/ x& E3 Z8 c. SSuncor 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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