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Suncor to lay off another 1,000 workers$ d9 Y$ ]4 X# {' G' G/ p" U
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST; t k/ h- ^$ h5 X; G& e
Canwest news service
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! R& f2 o) l! J7 X0 S% W+ \+ D+ p& 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." e8 _8 `" M# ^- y- I ]
% J) U4 R! w! ?* a# G; e \ vThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.! ~3 Z% i6 O6 K$ Q" h/ N
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7 h" g& P+ e# N( x"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.' H) ?4 W, w2 v" Q( m0 Q3 U$ U
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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."
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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 $25-million.3 H/ W) E k$ f7 a
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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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