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Suncor to lay off another 1,000 workers
2 Y( S1 R2 p" \1 P. c; iLast Updated: Tuesday, January 12, 2010 | 06:03 PM EST
% V& n: H2 i8 G$ XCanwest news service
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. _7 K" D' d I9 R" F# }( ZCALGARY -- 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.
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" r6 y( }6 C- r"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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9 ?: X6 f2 a& u3 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."4 U# o! U6 o9 C: Z
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: J; f* m' S$ ]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.6 o0 J/ n6 K) }/ i1 q+ H( p
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+ t" o1 w" d) N4 O# a# uSuncor 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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