CHATTANOOGA, Tenn. (AP) — The nation’s largest public utility is eliminating more than 2,000 jobs as part of a $500 million cost-cutting campaign.
The Chattanooga Times Free Press (http://bit.ly/1qX1qLU) reports the Tennessee Valley Authority is making the cuts this year to pare expenses and make electric rates in the Tennessee Valley more competitive with neighboring utilities.
Most of the staff reductions are being made by not filling vacant jobs and through retirements and resignations by the end of next month.
TVA President Bill Johnson said this week that the voluntary reduction offers were well received and avoided the need for massive firings, although some employees are being laid off.
The staff cuts are the agency’s largest in more than two decades.