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Suncor to lay off another 1,000 workers
3 N7 Y+ ?5 i9 c! q3 C* o6 M+ FLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST) L% V, Z0 B9 R0 m8 v
Canwest news service( N+ L J3 o. J! v9 j4 m" R+ _2 @$ _: d
8 T# a9 Y6 Q% t( C+ NCALGARY -- 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.7 Z6 l' w4 Z0 ? A1 }0 E7 ?9 p4 |( l
* n5 ]6 S4 F" V( z3 G# zThe 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.' ^ F2 w0 w& V! m0 f
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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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; J* t: b+ d0 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.( n4 t8 b) I8 `( @! x G
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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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