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Suncor to lay off another 1,000 workers
6 p9 O# z7 q0 d$ `, p( ?Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
' q& X: [9 H' A+ U$ C# q2 p/ XCanwest news service# L) _. N7 K8 h; S
" V2 v" e9 a- t, p4 f0 \. GCALGARY -- 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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The action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000./ P* l, l5 O; P* B' E4 \! C
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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.5 d# u* Y) ]1 q( Q' {+ R' e) ~
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4 y7 U$ j# {+ y"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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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.6 f2 n: L0 `/ L. K1 f
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+ V6 m2 e5 A. B- ], WSuncor 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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