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

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...