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Suncor to lay off another 1,000 workers5 G7 h& _0 S6 i; R% v8 z9 Z @: Z
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST; j& F9 `6 o6 v2 q7 v& s& u& s
Canwest news service
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CALGARY -- 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 2,000.7 k/ g0 q/ y& a
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7 }: y/ C) M4 o- @"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.$ B3 K9 J/ p' n2 j7 J
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1 }$ n: R ~1 e3 _# h6 S"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.( y& b7 o2 Q+ t* o
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# k! T1 H: @3 BSuncor 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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