FirstEnergy Corp. (NYSE: FE) on Sept. 19 said it is expecting to cut 200 jobs as part of organizational study to determine how its workforce should be aligned to best meet the challenges of the continued weak economy.
The results of the organizational study will be announced in early November.
"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 Anthony J. Alexander, FirstEnergy president and chief executive officer.
In addition to the organizational study, the company said it also expects further workforce reductions occurring throughout 2013 as replacement of employees who leave the company through normal attrition will be limited.
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