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Suncor to lay off another 1,000 workers/ H; W n5 w9 j! g$ D3 c6 y# K
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST: [! \8 G3 ]) v; w2 y7 u
Canwest news service* K7 O) `* r" M) D
6 w* |- w0 d. k! D& tCALGARY -- 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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. N% S3 y) H; |9 }4 T5 r+ ~3 N, SThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.
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: y- }/ K a9 O8 S"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.1 q+ b. w; C: B! T$ _3 ]4 P2 D. [
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7 z9 u& o4 T8 O. ]) g$ l# U"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.", c' L- k& e7 f$ N, b# M" {: T3 Z$ z
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6 X. F0 U, [ P1 ~; n- O$ V; |) nMr. 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.
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( U+ l, S1 f# V/ j; XSuncor 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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