Exelon will trim 1,200 jobs amid cost cuts

[hatrack]

WASHINGTON - "Exelon Corp. said it will eliminate 1,200 jobs by 2004 and another 700 positions by 2006 as part of a cost-cutting plan the utility company has labeled 'The Exelon Way.'

The Chicago-based company has set a goal to improve annual cash flow by $300 to $600 million, in part through layoffs targeting 10 percent of its work force."

EDIT

St. Louis Post-Dispatch

[jamesinca]

1. Part of the jobless recovery

I thought all those tax cuts were to put money back in the pockets of business to stop such layoffs? Guess Exelon was not one of them. I see that they will have most of the '03 cuts done just in time for Christmas. Reminds me of the Merle Haggard song " If we make it thru December"

[salin]

2. You mean the Job-loss recovery

pass it on.