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Suncor to lay off another 1,000 workers% l+ F" K+ p2 `3 f3 s
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
5 F. M5 h% V* ^! m3 }0 R( w& YCanwest 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.7 d- a$ V& |% g
( I& i* n6 b/ W2 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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"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.9 H* o5 \) o/ H7 `3 r
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( y. b. j' v u( N: z2 B"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."# ? V- g0 k9 t/ |0 J
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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.3 O; x! j1 x: j3 p% o
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+ a7 y' \$ `: @7 j& S; tSuncor 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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