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Suncor to lay off another 1,000 workers
, P' ~6 r, x( ?. g2 BLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST( o4 h' E) ~; G! {' b7 h- H
Canwest news service
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G% W) I L7 E, O9 W2 j7 g, p qCALGARY -- 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 2,000.5 k& Q9 F/ e, `$ F# }/ k- z/ 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.5 p; [0 G/ {) \) o4 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."
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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 $25-million. |# n$ V- w+ V4 L( c( ?
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1 _! q& g0 N' Z. V% y: {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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