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Suncor to lay off another 1,000 workers
7 H( d& L* x ]0 u) L, o9 S! B+ zLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST4 k8 u* v" }) l' w; O6 h3 d9 r
Canwest news service, I; z& p, g) k% m" V
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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.5 p5 Y* {. \/ Z+ }$ Q2 W
0 N$ h# n( j7 EThe 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.
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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."% E4 b0 A6 k4 t" u3 o
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) o: H% I( V5 Z5 ~9 rMr. 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., I5 _1 D) p" t! ^
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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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