TVA Cuts Jobs

The nation’s largest public utility is eliminating more than 2,000 jobs. The Tennessee Valley Authority says the cuts are part of a $500 million cost-cutting campaign. According to the Associated Press, TVA is cutting the jobs this year to trim expenses and make electric rates more competitive with neighboring utilities. Under the plan, more than 900 employees agreed to resign or retire and were given a week’s pay for each year they were employed with the company. Another 1,000 jobs will not be filled. TVA declined to disclose the exact number of layoffs, which are the agency’s largest in more than two decades.

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