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Ameren trims 150 jobs through layoffs, buyouts
Saturday, November 07, 2009 2:52 PM


(Source: St. Louis Post-Dispatch)trackingBy Tim Bryant, St. Louis Post-Dispatch

Nov. 7--Ameren Corp. said Friday that it laid off more than 50 non-union employees this week as part of the company's move to eliminate about 300 jobs by the end of the year.

That total includes approximately 100 employees who accepted buyouts Ameren offered in September to 350 full-time managers and non-union employees who will turn 58 by Dec. 31.

The job losses announced Friday are in addition to summer layoffs totaling about 145 positions -- including approximately 50 unionized jobs -- in Ameren's merchant generation segment. The combined reductions represent about 3 percent of the company's 9,700 employees.

Reduced electricity demand resulting from the recession prompted the job cuts, the company said.

Ameren said workers losing their jobs will get either two weeks' pay for each year of service (the number of weeks capped at 52) or benefits defined in labor contract provisions. In addition, workers may get outplacement or financial planning help, health insurance premium subsidies and tuition reimbursement.

An Ameren spokeswoman said the job cuts this week affected workers of various ages doing a wide range of work and were not tied to the number of employees who accepted the buyout offered in September.

Chief Executive Thomas R. Voss said: "We extended these benefits in an effort to help our employees make this difficult transition in this time of economic hardship. Those same economic conditions make this move necessary for Ameren."

The company recorded a pretax charge to earnings of $17.5 million during the quarter ended Sept. 30, as reflected in the earnings release distributed Oct. 30.

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