Canada's Suncor Energy to slash 1,500 positions amid cost-cutting plan
Calgary/IBNS: Rich Kruger, new chief executive of Suncor Energy, has announced his immediate plan of the company's elimination of 1,500 positions to cut costs by $400 million by the end of this year.
Kruger notified the staff of Suncor Energy on Thursday about the plan in an email, describing that the company needs to reduce its staffing costs related to its competitors in the oilpatch.
"Staffing reductions will occur at all levels of the organization and will be based on both performance and business needs. As we do this, we will eliminate work, critically looking at what we do, why we do it, how we do it and the value it adds," Kruger told staff in the message.
After becoming CEO on April 3, Kruger had pledged to transform the company into a "simpler and more focused organization" under his leadership.
In an emailed statement, spokesperson Sneh Seetal said that Suncor is always looking for opportunities including cost reduction to drive value and improve performance in our business.
(Reporting by Asha Bajaj)