Revenue Shortfall Leads To Changes At Progress Energy
Posted December 7, 2004 10:35 a.m. EST
RALEIGH, N.C. — The need to cut costs will mean a management shake-up at
The power company will announce senior management layoffs and a voluntary early retirement plan Wednesday. Progress Energy employs 3,400 people in Wake County. More company-wide layoffs could come next year.
Despite the revenue shortfall, customers will not be impacted. Rates are frozen until at least 2007.