Duke Energy Merger Expected To Add More Charlotte Jobs

Duke Energy Merger Expected To Add More Charlotte Jobs

Saturdy, November 19, 2011

While some positions will be eliminated company wide in Duke Energy Corp’s $26 billion merger with Progress Energy Inc, Charlotte will end up gaining local jobs in the deal.

According to Duke Chief Executive Jim Rogers, up to 2,000 positions could be loss as a result of the merger, but Charlotte should see an increase in jobs. “By the time the dust clears on the voluntary (severance) program and the consolidation, there will be more people at Duke in Charlotte than before the merger,” he says.

The companies told the N.C. Utilities Commission Thursday that they now expect to eliminate a total of 1,860 positions over three years through a mix of buyouts, voluntary departures and layoffs. The N.C. Utilities Commission, which is reviewing the proposed $26 billion deal, had requested the updated staffing information.

That would be good news for Charlotte. Raleigh, however, is expected to lose as many as 1,000 jobs at the Progress headquarters when the companies merge. Merger critics argue that instituting such large staff cuts during a severe economic downturn means the merger is not a public benefit for the state.

The merger also requires approval from the Federal Energy Regulatory Commission, which has weighing concerns that the merger would give the combined company monopoly powers to manipulate electricity prices. If approved, the merger would form the nation’s largest electric utility.

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