AKRON, Ohio - FirstEnergy is conducting an organizational study to determine how its workforce should be aligned to best meet the challenges of the continued weak economy, and they expect it will result in 200 job cuts.
The utility said the organizational study results will be announced in early November, where it's expected 200 people will lose their jobs. Affected workers will be eligible for benefits under FirstEnergy's severance plan.
"This effort is in response to a combination of economic factors, including continued slow customer load growth and an abundance of electric generation supply resulting in low power prices," said Tony Alexander, FirstEnergy president and CEO in a news release. "While this is a difficult step to take, it is part of our ongoing efforts to meet these economic challenges head-on and ensure the company is positioned for long-term growth and success."
In addition to the organizational study, the company also expects to reduce its workforce throughout 2013 due to not filling positions left open by attrition.