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Suncor to lay off another 1,000 workers
0 K% R3 t$ B7 V6 OLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
' H; w$ p6 H: G5 c( }8 bCanwest news service
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4 B/ y8 T3 V: Y- ?' DCALGARY -- 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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) m' j' f, `% k# i9 v. o% J6 u. j' IThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.) h& G4 g9 n# d
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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.", y3 d8 Y: c8 h* u9 y: K- i# g# p4 s+ q
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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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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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