TransAlta cuts 239 positions, most at Calgary headquarters; expects to save $25M | iNFOnews | Thompson-Okanagan's News Source

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TransAlta cuts 239 positions, most at Calgary headquarters; expects to save $25M

September 29, 2015 - 4:20 PM

CALGARY - Power company TransAlta Corp. (TSX:TA) has announced it's cutting 239 jobs as it looks to drive down costs.

The reductions, with savings of $25 million, are mainly at the Calgary head office of the electricity generator and marketer.

The latest layoffs are on top of 247 positions TransAlta cut earlier this year in its Canadian coal mining unit.

All together, the company expects to save $47 million this year from the restructuring.

It says ongoing economic and regulatory uncertainty has made it necessary for TransAlta to trim its workforce.

Chief financial officer Donald Tremblay says TransAlta's goal is to be profitable in all market conditions.

"These are important steps in the context of a very competitive Alberta market and they will ensure sustainable cost reductions into the future," he said in a release.

"We have responded to these challenges by sharpening our focus on providing the most competitive pricing for our customers."

Note to readers: This is a corrected story. A previous version had $22 million in savings in the headline.

News from © The Canadian Press, 2015
The Canadian Press

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