National Grid says it will shed 1200 employees, restructure how it operates to sharpen its focus on local operations, and and cut costs by $200 million. The British-owned utility made the announcement on its web site. A spokesman says the layoffs will impact operations in Central New York, but it is still too early in the process to know what jobs, or how many will be impacted.
“The decision to reduce our U.S. workforce is a very difficult one,” King commented. “But we must ensure we are working within our financial means and focusing on the things that really matter to our customers and regulators.” He concluded, “Right now, we are using more resources than our revenues can support, and that is simply no longer sustainable.”
The utility says the reduction in staffing comes as the it tries to be responsive to a clear message from customers and regulators that they want more efficient service, and investors that want an improved return on their investment.
