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Suncor to lay off another 1,000 workers m1 }5 F- c* q7 J' Q
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST( C( O: q& `; C1 Q) k* ]
Canwest news service! a2 a) d7 j$ E+ h+ n Q" y% p) R
. t. ^) p, ~; z( C; }* KCALGARY -- 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.& ~1 f, ^' H0 I1 o
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The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.# m1 S6 A& u$ R1 [. j
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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.". g; Y! r: P; i! Y
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& O1 z/ e# N; t+ \2 |9 J; EMr. 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.2 h+ l' M2 U, s! o
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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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