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Suncor to lay off another 1,000 workers/ S. e0 `9 H" e
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST
* I6 Z; [7 r" u% W8 F2 zCanwest news service
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* d! [) c% \4 @, P) |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.: ~7 j- a0 Q& E, a
. Y) R5 N+ @' Z N9 m$ gThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.* p+ G9 B/ D8 J% d; k; \; @0 k0 s
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- [, R2 t0 `0 T"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." v0 b* z# a( p( C" [7 N4 R
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$ S: ~" S+ F) p, S% c( C: ^8 r"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."$ ]# p+ E. F+ ~- E* {: k u
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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 $25-million.- e0 a0 j9 x$ O$ f+ K
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2 u. _3 c/ c, z& @9 X$ l5 kSuncor 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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