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Suncor to lay off another 1,000 workers+ Z o$ C# v9 q
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
! l% C) S" p0 iCanwest news service; j7 z: K, ^; H8 J- b: n
; c* O" k. `0 W) F! [$ YCALGARY -- 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.
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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."2 Y9 h5 }9 S7 g0 T1 T
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% ~9 y- }9 M* d) e' D5 I/ TMr. 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.. N! I _) p: }4 }# k
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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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