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Suncor to lay off another 1,000 workers p. y3 r+ x- \3 Q
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST/ c" J! k5 Z! ?" @6 D4 Y
Canwest news service+ X5 K/ b4 }; l
0 l8 [- ~6 `* aCALGARY -- 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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# s, Q. `6 [2 K% EThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.
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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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8 j% o3 _2 Q% n; q- g"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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7 [: J8 R ]) g! G. [5 }& t, g3 `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.+ u3 r/ I! p4 g; R
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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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