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Suncor to lay off another 1,000 workers! R+ h P2 r% {
Last Updated: Tuesday, January 12, 2010 | 06:03 PM EST( p6 Q' I4 t. S; F! A3 F
Canwest news service
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- g# ~! A- M, o8 X+ hCALGARY -- 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.$ v* c7 c& f+ z
+ Q. h; E, a4 v" }) DThe action, announced at an investor's conference in New York this afternoon, will double the staff reductions to 2,000.: a o: D) |7 M, ?1 B
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' W7 o3 z2 B; v: h/ d. g0 [. j"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.4 O9 l5 ]# M9 w$ c8 z6 q
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; `5 ^ A D* g) q6 \( F"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."/ B) C3 f/ y1 W
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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 $25-million.$ i! d" ~' e) O# ]8 ~
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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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