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Suncor to lay off another 1,000 workers
9 Q$ v9 R% c$ u& b/ m8 M8 ]Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
8 U. E, V! _/ U3 c$ P% TCanwest news service
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p g4 B. v) c- ?4 X0 D/ KCALGARY -- 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.1 R; K& q1 |% p+ e0 e
. b; a) P0 b* i; m$ ~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." c+ i' O4 d# x7 ^ y/ h
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4 l" M+ v1 y% j+ M" ?6 n) Q# G0 j$ f"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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# X: S5 l+ n5 Q/ iMr. 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 _/ f) ]; S; U1 x% I; t
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6 N! U: U4 E! h' q! X6 lSuncor 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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