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Suncor to lay off another 1,000 workers' ~) W. D' a/ s* P5 I
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
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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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The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.& @5 n* @& M3 o, F% N& y
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0 [% z3 P+ `3 B' M: k2 x"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.7 ?8 T5 g G6 n' Z P
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; _- Z) x. D% H5 ?# F8 K' N/ J"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.9 I1 i# L5 ]2 ?
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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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