FirstEnergy cutting 200 jobs
AKRON, Ohio (AP) — FirstEnergy Corp. said Wednesday that it will cut 200 jobs in November following an assessment of its workforce.
The electric company, based in Akron, Ohio, is looking at how its workers should be deployed to cope with the weak economy. This will include a review of its corporate support departments and its subsidiary FirstEnergy Solutions business, both based in Akron. It will announce the results in November.
The company currently employs about 17,000 people. FirstEnergy also expects its total workforce to shrink by attrition next year.
In addition to the sluggish economy, FirstEnergy said it has struggled with weaker demand and lower prices due to an abundant supply of electricity.
FirstEnergy, which runs 10 electric distribution companies, is one of the nation's largest investor-owned electric systems, with customers in Maryland, Ohio, Pennsylvania, New Jersey, New York and West Virginia.
Shares rose 7 cents to $43.37 in morning trading.