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Suncor to lay off another 1,000 workers/ r7 z7 z. ] K
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
( a z7 E- z6 T, I1 a- K2 w$ x; pCanwest news service
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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. v+ s4 Z1 t; T3 d' m2 M
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The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.$ l7 z! i3 G" h' n: [
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* L9 m5 n5 {) U4 }$ X2 j& m"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.
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* T4 C9 g. L% P9 L; w r"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."3 j: p2 U+ n4 P
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3 r) s2 P, l5 t5 EMr. 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 $25-million.9 B6 O- x% h% k' S2 h% ^$ n
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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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