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Suncor to lay off another 1,000 workers
- ^& ]/ v0 P7 m6 E1 {! J) p! }Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
. \5 W4 ]" |8 E! ^Canwest news service
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) ~4 s: C3 k; A, |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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- B4 S! b w5 m9 M1 b( m( DThe 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.6 _0 _7 R7 F2 n5 c5 ^: w
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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."9 R+ G" j: X7 { w+ K
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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.+ r. p) y6 ]# a! H
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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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