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Suncor to lay off another 1,000 workers
7 l! {, o& u- Q9 G4 j, cLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST c% T+ l) D( r' H5 j/ Y2 B& Y
Canwest news service# X! ~) z {* Y7 j5 ~
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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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0 j6 d- i+ B; U5 ]* W! E/ |# fThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.* U- e/ D- ]6 N9 ~
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. E0 W2 o8 W8 L7 n"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.& x0 j x1 ?; ]2 P1 \* }; ]
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: c3 G- S7 |9 ~& g) x, m: P( V"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.") A& K5 `1 o1 C7 ]# p/ E; f" G
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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.% S0 F' H3 M8 h) a
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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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