As it announced a steep year-over-year drop in expected earnings for the second quarter, Entergy also alluded to a new cost-cutting initiative expected to result in layoffs.
When pressed by reporters about a "human capital management strategic imperative" mentioned in earnings guidance last week, the company issued a statement confirming that the initiative will involve workforce reductions. The Baton Rouge Advocate reported that the plan will look for efficiencies in all parts of the utility's business, although the company did not have specifics on the number or location of affected employees.
Entergy's power plants generate about 30,000 megawatts, with roughly a third of that coming from its sizeable nuclear fleet, according to the company. It owns 11 reactors at Arkansas Nuclear One, Grand Gulf, River Bend, Waterford, Palisades, Indian Point, Fitzpatrick, Pilgrim and the Vermont Yankee plant.