Sunoco CEO Says Cuts May Include Personnel
15 Dicembre 2008 - 4:14PM
Dow Jones News
As independent refiner Sunoco Inc. (SUN) trims spending, layoffs
and luxury spending cuts may be among the changes, Chief Executive
Lynn Elsenhans said Monday.
"It's not just people costs, but there are people costs,"
Elsenhans said, speaking to analysts and investors. Other spending
cuts will include the sale of the company's corporate jets, she
said.
Elsenhans, who began as Sunoco's chief executive in August, has
retained consultancy McKinsey and Co. to review the company's
operations. Elsenhans declined to specify a target amount of
spending that she hopes to cut.
-By Jessica Resnick-Ault, Dow Jones Newswires; 201-938-4435;
jessica.resnick-ault@dowjones.com
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