Layoffs could be on the horizon for Entergy

Entergy Corp. (NYSE: ETR) announced last Friday it is reorganizing to increase efficiencies, meaning layoffs could be looming for the company’s 15,000 employees, according to a report from the Barre Montpelier Times Argus.

A spokesperson for Entergy told the Times Argus in an email the company is expecting workforce reductions to be part of the cost-cutting initiative, but there are no currently no specifics regarding how many employees will be affected.

The announcement on reorganization came after an announcement earlier last week that the company’s quarterly earnings per share had been cut from $2.11 to $1, largely caused by income tax expense after a settlement with the Internal Revenue Service regarding storm cost financing in Louisiana, according to the Times Argus.

Read more personnel and staffing news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...