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Suncor to lay off another 1,000 workers
( h! l' H) Y- s) d" ^Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST) f) D) ^# O7 T1 D5 I
Canwest news service
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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." e) B( A( G. }/ Q) T! t1 _% z2 t2 a' g
3 ~8 n$ o1 R: WThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.& x* ]; `1 _: B! B1 v" V& l! L$ O
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& A/ P2 m1 E v2 j"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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) L5 z1 ]5 [4 O- q0 z. F* H- x) b"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."* {/ ^3 {. V3 j. D8 d! B" D
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8 \3 i" @9 m% h6 g( Y/ \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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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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