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Suncor to lay off another 1,000 workers! x. O9 \1 v% j
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST# ~( ^5 v6 m$ V+ `
Canwest news service3 X) L2 ?: J* A" n
1 }$ p( x4 p/ ^/ g4 @* J, P9 _4 t2 ACALGARY -- 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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- O+ d) ?, b' _# r! U1 \: S# gThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.9 J3 p: Z; `& x) M
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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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# }8 H+ Y" k I) w% }. @& y! n"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."1 K& T9 h8 g7 e, L) R/ ~
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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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: y- l! Y( f2 g: E8 ^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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