CANADA'S PROVINCIALLY owned utility, Ontario Power Generation (OPG), has announced it will cut 2000 jobs over the next two years, at the rate of 1000 per year. In addition to the cuts, staff will also be transferred to offices closer to generating stations.
The cost of the downsizing and transfers at OPG - which currently has about 11,000 employees -- is estimated at US$251.2M.
Ontario's provincial government has ordered OPG to reduce its size prior to the opening up of Ontario's electricity market on 1 May 2002. As part of the electricity industry restructuring, OPG will not hold a monopoly on supplying power in Ontario. It is being required to sell or lease a large portion of its generating capacity, which generates more than three-quarters of Ontario's power.
The utility company is also selling four of its coal-fired plants and four hydroelectric stations.
