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Suncor to lay off another 1,000 workers2 }* K* |4 S" z1 B f
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST1 s. Z# K0 V; X; B+ \, _
Canwest news service
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/ Q* ^$ l" \' N+ T* J S/ TCALGARY -- 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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+ l' Z0 ]3 C! _, M F& c* G% j IThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.
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& d& Q- w) M* i1 `. {' b"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.6 V3 k1 u+ {2 S9 U) s
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"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.") q) F) \; t- X
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1 `+ a! M' U5 A( }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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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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