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Suncor to lay off another 1,000 workers
' Y! \: S8 s3 f& {/ V9 S2 mLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST0 Y9 l' u9 N; B8 w
Canwest news service5 ~3 n- W. J& U6 ~. ]1 c6 Q
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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.% o% Y; M$ y& j) t
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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.* S, y: G; @: g g, n
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1 c4 n5 @+ h- t7 H& {' x: {"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.# l! E4 T) Q. O& A! u- i& W m
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3 _8 x2 K) `; R+ z6 I/ K: e"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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' N) [; H k" u$ N4 FMr. 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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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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