Oil Sands Major To Slash 1,500 Jobs

Suncor, the Canadian oil sands major, will cut 1,500 jobs this year as it seeks to turn its financial fortunes. A spokesperson for the company said the cuts will affect both employees and contractors, Bloomberg reported. Employees were informed about the cuts, the spokesperson also said. With the job cuts, Suncor would be able to slash costs by some $400 million, according to the company’s new chief executive, Rich Kruger, as cited by CBC News. "Staffing reductions will occur at all levels of the organization and will be based on both performance…