Entergy Corp. said Tuesday that it plans to cut 800 jobs companywide, including about 165 in Arkansas.
The layoffs, which amount to about 5 percent of its national workforce of 15,000, were announced the same day the utility reported second-quarter earnings (PDF) down 55 percent from the same quarter last year.
In response, the company said it is redesigning its organization through “human capital management.” Entergy expects to save between $200 million and $250 million by 2016 through the layoffs. Spokesman Chanel Lagarde told The Associated Press that the layoffs have begun and should be completed by the end of the year.
“Difficult decisions like job reductions are sometimes the very tough outcome of making long-term fundamental improvements in the way a company works,” Leo Denault, Entergy’s chairman and CEO, said in a news release.
“The redesign process has been comprehensive, thoughtful and focused squarely on being fair to our employees throughout the process and being responsive to the needs of our customers, our employees, our communities and our owners.”
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