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Suncor to lay off another 1,000 workers4 b3 D- t( r% _, H6 k1 ~) u
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST) S; ]4 E% s1 u7 ?5 s6 o$ j5 c
Canwest news service9 [7 i8 |6 I3 J) Q) w
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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.9 O: U! E2 @# D! C( h
1 N, z/ K, ]2 d$ KThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000." z6 d V" T4 w7 D7 P# g
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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.
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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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, L/ [* o) }7 lMr. 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.5 v: ^3 U: e5 }+ V* _
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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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