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Suncor to lay off another 1,000 workers( \, K5 T5 M( D6 ^7 O" s+ _# q$ {
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
% U& N% R4 k6 KCanwest news service
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# Z! @4 W: [% T0 X; z8 Y- c; sCALGARY -- 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.
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2 i% t7 ^! ?+ y. b% J5 J"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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9 z, W# S# {9 _: m"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.") M' ?4 N! O! ]
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" d$ _* F$ l& xMr. 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 $25-million.5 j( E$ m% l- H9 H1 [
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9 { o! ^! h" m2 A* ySuncor 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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