FirstEnergy will cut 400 jobs by 2016
Photographer: WEWS
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Posted: 11/09/2012
AKRON, Ohio - The utility FirstEnergy says it expects to cut up to 400 jobs by 2016 as it struggles against a lackluster economy that's led to lower demand and power prices.
The (Cleveland) Plain Dealer reports that the company's CEO talked about the coming job cuts during a public teleconference with analysts Thursday about third-quarter financial results.
FirstEnergy's Anthony Alexander said the reductions would be made through "normal attrition" beginning next year.
The Akron-based company employs 17,000 people in 10 companies from Ohio to the East Coast. Its third-quarter net profits were down nearly 20 percent compared with the same period in 2011.
FirstEnergy was faced with restoring power to around 250,000 customers in northeast Ohio following superstorm Sandy last week.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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