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Suncor to lay off another 1,000 workers& z* Q( W% z& N3 @8 q$ o
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
8 @! `. e. ?' C! k- a3 ACanwest news service
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: O' J. E0 T# oCALGARY -- 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., `. i0 X, Q) u0 M4 g" P1 h& }
4 l2 {1 Q) u) I+ L) h" }- M( i* l! m/ y6 yThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.# a8 X6 r1 l6 M; r% b, x
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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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# J3 A$ F* z4 M4 j& 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."
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0 E6 w9 H; t! K7 u9 s: ^2 q& A; g7 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 $25-million.' @! t0 t) s2 k- F/ O, S' M; I
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1 e' V" i0 e: _& ?$ [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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