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Suncor to lay off another 1,000 workers
. U" K& m: E! F6 {+ C9 |/ HLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
; ]* P: z, |& C Q' ~Canwest news service
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( S' z4 ]! z3 H: t1 [( DCALGARY -- 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." r/ d3 r' ^4 R4 |7 \2 _1 U
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. \2 m- A( o S5 e5 m u"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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"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.") `6 H7 e# L2 Z& s/ Z" A
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O; W D; y1 ~) `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.) J; o: W& p. Y6 ]3 b6 \
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, P- o4 G* U" N8 J0 | y; T6 }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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