(Calgary) Suncor Energy said Thursday it had completed a 1,500 layoff operation two months ahead of schedule, but added it would continue to be on the lookout for opportunities for reductions in other sectors as part of the of a broader approach to improve its effectiveness.
Chief Executive Officer Rich Kruger said during a conference call on the company’s most recent quarterly results that the reductions are expected to save $450 million a year, about $50 million more than what they expected when they were announced in June.
The company will also move forward with plans to reduce its number of trucks on the road, in favor of larger vehicles, and reduce the number of drivers required for its operations.
Mr. Kruger said Suncor would increase the number of autonomous trucks at its base plant. It had 31 earlier this year, and that number could rise to 91 by the end of next year, making it one of the world’s largest self-sustaining farms at a single mine.
The company also says it is still finding efficiencies among its contractors, but that further improvements would be more difficult to implement because the system has already been stripped down.
Mr. Kruger took over as CEO of Suncor in April. Until now, he has focused on reducing costs and simplifying the company’s operations.
Company in this report: (TSX: SU)