American Electric Power Co. Inc. will cut as much as 10 percent of its active workforce. American Electric Power Co. trades on the “New York Stock Exchange” under the Stock Symbol “AEP”. For More Information regarding “AEP” as well as the Latest Stock Market Information, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
Join today and be part of the best free investment newsletter on the web where we focus on market moving news.
American Electric Power Co. Inc. (NYSE:AEP), which acts as one of the nation's largest power generators, will cut as much as 10 percent of its active workforce and take other money saving routes in order to deal with the uncompromising demand.
AEP struggled as power demand stumbled throughout the recession, predominantly from industrial companies. Consumption of electricity dropped in 2008 and 2009, the first consecutive drop in 60 years that has taken place.
AEP is hoping between 1,000 and 2,000 of its almost 22,000 employees will accept buyout offers. It also will look at cutting operations and maintenance expenses. If AEP does not get enough volunteers or attain the required cuts through other measures, they may have to look at additional cuts, which could possibly call for layoffs.
You can contact us during market hours at 1-888-9-ClubGrand (1888-925-8247) or via email at staff@wallstreetgrand.com.
Safe Harbor
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including 2009 growth, revenue for the second quarter and year of 2009 and gross margin for the second quarter and year of 2009. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the impact of intense competition, the continuation or worsening of current economic conditions and the condition of the domestic and global credit and capital markets314bd536.
Disclaimer:
Wall Street Grand LLC has not been compensated by the company for this press release and does not expect to be compensated in the future for any type of awareness. To read our full disclaimer clicks the link http://www.wallstreetgrand.com/disclosure.html.
