Corporate ‘Transformation’ to Lead to IPL Layoffs
The bank plans to make the move in the fourth quarter of this year.
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe parent company of Indianapolis Power and Light Co. says it will cut 100 jobs in Indiana and 60 Dayton Power & Light jobs in Ohio as part of a what it calls a global strategic transformation. Virginia-based AES Corp. (NYSE: AES) says the changes will improve operational efficiencies, while continuing to serve its customers safely, reliably and affordably.
Craig Jackson, who has served as chief financial officer for IPL and DP&L for five years, will serve as president and chief executive officer for both utilities beginning March 31. In June 2016, AES named Rafael Sanchez president and CEO of IPL. DP&L named Tom Raga president and CEO in late-2015. AES US Strategic Business Unit President Ken Zagzebski, who has been overseeing IPL and DP&L, will become executive chairman of IPL, DP&L and both utilities’ holding companies.
Zagzebski says "while these changes are difficult, they will allow us to improve efficiency and continue modernizing our infrastructure while maintaining affordable electricity for our customers. This transformation will enhance our performance, and support investments in new energy solutions that will make a positive economic contribution to both Indianapolis and Dayton."
You can connect to more about the restructuring by clicking here.