Sunoco Inc has announced that it will reduce its salaried workforce by approximately 750 positions in 2009, which represents about 20% of the workforce included in the first phase of the company’s Business Improvement Initiative. This phase of the review included all business and operations support functions, as well as operations at the Philadelphia and Marcus Hook refineries.

Sunoco expects to reduce costs by more than USD 300 million on an annualized basis by year end 2009. In addition to this workforce reduction, significant savings are also expected in energy costs, and the use of materials, equipment and contractor services.

Mr Lynn Elsenhans chairman & CEO of Sunoco said that "It is never easy to take steps that impact the lives of employees and their families. While the company has enjoyed several years of strong financial performance, we are now facing a different and more difficult economic reality. Like many other companies across a variety of industries, Sunoco is taking steps to remain competitive."