The Suncor Energy Centre pictured in downtown Calgary, Alta., Friday, Sept. 16, 2022.THE CANADIAN PRESS/Jeff McIntosh
CALGARY – Suncor Energy Inc. says it has wrapped 1,500 job cuts two months ahead of schedule but that it will continue to look for areas to trim as part of a wider efficiency push.
Chief executive Rich Kruger said on an earnings conference call that the reductions are expected to save $450 million a year, or about $50 million more than what they expected when the cuts were announced in June.
He says the company is also pushing ahead with plans for fewer, bigger trucks, as well as cutting out drivers from operations.
Kruger says Suncor will be ramping up the number of trucks running autonomously at its Base Plant operation from 31 earlier this year to 91 by the end of next year to create one of the world’s largest self-driving fleets at a single mine.
The company also says it is not done finding efficiencies in its contractor base, but that further improvements will be harder as much of the waste has already been taken out of the system.
Kruger stepped into the chief executive role in April with a focus on cost-cutting and simplifying Suncor’s operations.
This report by The Canadian Press was first published Nov. 9, 2023.
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