Thread regarding Duke Energy. layoffs

Layoffs are coming to Duke

Buyouts offered in October. Power Plant Ops, HR, Legal affected… IT and Nuclear, yes, you’ve guessed right…

Duke Energy Corp. is expanding voluntary buyout offers announced in October to employees in divisions including legal, human resources and power plant operations. And some layoffs are likely in the nuclear and information technology divisions targeted for buyouts in October.

We do this every year… Per Nissan…

Duke spokesman Neil Nissan says the job reductions are not aimed at making the company smaller, but rather at making it more efficient and holding costs down for customers. “This grew out of reviewing our operations, as we do every year,” he says. “We are transforming our company and we need to operate in the most effective manner.”

No updates on how big the cut is going to be… Will depend on the number of folks who go voluntary…

The company declines to say how many jobs it wants to cut in this effort. But Nissan says most of the job reductions are expected to come from people who volunteer to take severance packages.

Nissan acknowledges that he expects some involuntary layoffs will be necessary. Those would show up first in the nuclear and IT divisions, which are further along in the buyout process. But they could also come in other parts of the company, as Duke sees how many voluntary packages are accepted.

Almost 1000 cut in 2016, this will be a repeat…

Duke last made large-scale severance offers in 2016, when the company eliminated about 900 positions. Nissan says the majority of those cuts were accomplished with volunteers, but the company declines to say how many of those 900 employees were laid off.

Nissan says a number of factors led to the decision for the recent round of cuts. As the company becomes more focused on digital operations, some jobs have disappeared. And the company always focuses on keeping operations and maintenance costs down.

Oh, O&M spend again…

Duke executives had warned early this year that it expected to pressure on its operations and maintenance costs. In May, Chief Financial Officer Steve Young said O&M costs were low in the first quarter, “but this favor-ability is expected to reverse in future quarters.” And he noted there were “efforts looking at our O&M spend.”

Now, no details for your folks…

Nissan declined to say whether any of the divisions targeted with these latest buyout offers have particularly large reduction goals that might make layoffs more likely in those parts of the business. He said that not all divisions are currently being offered buyouts, but that the company is casting a much broader net than it did in October.

No kidding, right?

“We don’t do this lightly, “ he says. “It’s a very thoughtful and important process we go through.”


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