Monday, July 08, 2002

Allegheny Energy to cut 600 jobs Allegheny Energy Inc. said Monday that it will cut 600 jobs, or 10 percent of its work force, and cancel construction of two power plants to help cut costs after an unexpectedly weak first half. The company - with customers in parts of Maryland, Ohio, Pennsylvania, Virginia and West Virginia - also lowered its 2002 earnings estimate by more than 25 percent, citing lower wholesale energy prices, mild winter and spring weather, and substantially decreased energy trading since the collapse of Enron Corp. Allegheny invested heavily last year in energy trading operations. 1:10:17 PM  Google It!  comment  []

Consulting firm Accenture cutting 1,000 jobs Accenture Ltd., a large consulting firm, will cut about 1,000 jobs in the United States, England and Australia to reduce costs in uncertain economic times, the company said Monday. The cuts, mostly management jobs, will take place over the next several months, said company spokeswoman Roxanne Taylor. Taylor would not provide specific reasons for the cuts, except to say that there have "been challenging economic conditions in some parts of the world." Bermuda-based Accenture expects other hiring will offset the cuts, meaning the company's work force of about 75,000 will remain at that level by September, when the firm's 2002 fiscal year ends. 1:08:31 PM  Google It!  comment  []