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Suncor to lay off another 1,000 workers
: I1 C% ]* m/ c( `& s# ?4 \8 dLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST7 ~0 Y) Q/ u8 V( n
Canwest news service
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& g) @1 v$ i$ d9 b k) {& x0 g# dCALGARY -- 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 ~; F* @' u4 N1 F$ i% D
3 ~/ Z4 {& ~; C) }( nThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.8 Z8 f% G; J4 o% l. _- v3 o
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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.
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: H' L" r9 F1 N! M( 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."
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: ]4 j2 m" ^, L7 {2 tMr. 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.2 P. l& R; l2 L& w- Y: t7 C8 d: Q
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7 C! M: a* v' C2 JSuncor 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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