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Suncor to lay off another 1,000 workers
3 K, g7 Z g+ O! D' VLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST2 p t) c1 G; H' p+ r# r$ W4 V, S
Canwest news service. B- ?2 r! @* Z7 A0 m* u( S
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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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* F4 F3 k" f8 N4 c' P0 x& m$ d+ XThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.' c: C' t6 D* b# ^* `- D/ }
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) W. B% q' I& K% b" U: b- c( P"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.( ]( C4 S1 Z3 ~- e6 e
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( |* {! c! C+ Z# @* y+ @7 q"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.
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# Z3 C4 y* h9 x) m" ?9 M6 w6 Q1 v6 l& wSuncor 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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