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Suncor to lay off another 1,000 workers7 P$ j. P# X, ~& D0 F. s" d& ~
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
) C. M7 K! Z/ N) V; ECanwest news service; h6 ? V, e8 V9 H: ^
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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.6 n7 P/ n! y- z% P& R) ~
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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.& O7 ~6 X* ^$ k* \8 y' d
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n2 u9 X" t1 ]# t3 Q"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.! V- u. ` z, Z* A/ ]5 p+ w! t& _( D
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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."; F& z3 v! I: `) M2 p# |
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5 Y8 i' S$ P/ V8 L3 BMr. 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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6 K8 D& `2 [7 K# V; D4 rSuncor 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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