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Suncor to lay off another 1,000 workers) X2 e& a( O) R; ]( k: b7 D' k
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST- x9 O9 R$ j, `5 v
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.
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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.; e$ L9 _5 x# K- `
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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./ J* a6 Z9 n" v E# R- `( M
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# r; f& v$ ^ u% c8 ]2 C"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."6 r- w v& p6 b
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6 T9 h6 A# E4 u7 J, w2 h/ QMr. 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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/ b) b8 I/ H3 m1 q* [: USuncor 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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