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Suncor to lay off another 1,000 workers; o2 r f3 `, x
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST% H& L" K, D4 y) @
Canwest news service( m V& o# h0 X0 r) }# W: v
1 `" b/ k; c* S$ \& j4 X% ^3 fCALGARY -- 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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! D8 i7 p+ }6 e$ f( ~5 Q" R* |9 O3 PThe 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.* o6 B) U* `6 m- n3 r, s! b
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' E! ~& O- ?+ r, G% X"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."5 x. }7 o5 K/ p" z' }
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) L0 V1 Y% w0 {) 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.
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7 m! X" a# B. e, c" KSuncor 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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