Entergy to cut jobs, mulls future of wholesale nuclear
Source: Reuters
Power company Entergy Corp is mulling the future of its wholesale nuclear operation and plans to cut 800 jobs to save up to $250 million by 2016, Chief Executive Officer Leo Denault told investors on Tuesday.
As part of his reorganization plan to simplify Entergy's corporate structure, Denault said the company is studying options for its non-utility owned power plants, mainly its aging nuclear plants operating in the U.S. Northeast which face falling wholesale prices and a difficult regulatory environment.
"As we consider strategic alternatives for (Entergy Wholesale), all options are on the table," Denault said.
Denault, who took the reins of New Orleans-based Entergy earlier this year after the retirement of J. Wayne Leonard, outlined seven strategic imperatives he said he hopes will make the company easier "to follow, predict and value."
<snip>
Read more: http://www.reuters.com/article/2013/07/30/us-utilities-operations-entergy-ano-idUSBRE96T11S20130730