Suncor cuts 1,000 jobs, takes $1-billion out of 2015 budget – The Globe and Mail

Suncor Energy Inc., Canada’s largest oil sands company, has revised its budget for 2015 and deferred work on some of its oil sands projects.The company is also cutting about 1,000 jobs in 2015, according to a statement Tuesday. The cuts will come from its own workforce, as well as contract jobs.Suncor said it is cutting $1-billion from its capital spending program, as well as sustainable operating expenses between $600-million to $800-million to be phased in over two years, it said in a statement.

via Suncor cuts 1,000 jobs, takes $1-billion out of 2015 budget – The Globe and Mail.

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