Major Employee Restructuring at Duke Energy

In order to achieve some operational and maintenance cost reduction now that the merger between Duke Energy (NYSE: DUK  ) and Progress Energy is complete, approximately 1,400 employees will be leaving the company, 1,000 of them voluntarily and with severance packages. Half of the downsizing will occur in 2012 and the other half will be in 2013. The company still aims to increase earnings by 4%-6% both in 2012 and 2013, despite decreased demand, and also aims to increase its industry-leading dividend. It also would like to better place itself for coming EPA restrictions, and has closed 90 coal-fired units in order to reduce carbon emissions by up to 30%.

As the nation moves increasingly toward clean energy, one company in this space that is perfectly positioned to capitalize on having the largest nuclear fleet in North America is Exelon. This strength combined with an increased focus on renewable energy, along with its recent merger with Constellation, puts Exelon and its best-in-class dividend on a short list of top utilities. To determine if Exelon is a good long-term fit for your portfolio, you're invited to check out The Motley Fool's premium research report on the company. Simply click here now for instant access.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2139059, ~/Articles/ArticleHandler.aspx, 10/25/2014 3:21:04 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement