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The staff reductions result from the following initiatives:
-In July and August, Ameren's merchant generation business segment, announced the reduction of approximately 145 positions, including about 50 bargaining unit employees.
-In September and October, approximately 100 employees chose to sign up for a voluntary separation election offered to approximately 350 employees of Ameren and its subsidiary companies.
-In early November, the corporation announced over 50 involuntary reductions of non-bargaining unit positions.
Separated employees have been offered separation benefits consistent with Ameren's standard severance program, which provides either a lump-sum payment of two weeks' pay for each full year of service with a minimum of 13 weeks and maximum of 52 weeks of pay or benefits that are defined in labor contract provi-sions. In addition, where applicable, separated employees will receive certain other benefits, such as outplacement/financial planning assistance, health insurance premium subsidies and tuition reimbursement.
"We extended these benefits in an effort to help our employees make this difficult transition in this time of economic hardship," said Thomas R. Voss, Ameren president and chief executive officer. "Those same eco-nomic conditions make this move necessary for Ameren. We know we must build a more streamlined organization to compete effectively in an environment where costs are rising, energy usage by large indus-trial customers has dropped and market prices for our merchant generation power have declined significantly."
Voss added that the staffing cuts will not diminish the corporation's ability to continue to provide safe, reliable service.
"This initiative along with the deferral of certain capital expenditure programs and the reduction of many other expenses are part of our continued efforts to maintain our financial strength and flexibility and to deliver solid, long-term returns for our shareholders, while offering high-quality, reliable service to our customers," he said.
This story will be updated.
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