Exelon to Cut 500 Staff

Nuclear power plant operator Exelon will cut 500 support staff positions. The cuts will include 100 managers at Exelon’s ComEd utility in Illinois.

The firm will also freeze executive salaries and reduce compensation plans.

Exelon has just under 20,000 employees.

Exelon Corporation is an electricity generating and distributing company headquartered in Chicago. It was created in 2000 by the merger of PECO Energy Company of Philadelphia and Unicom of Chicago. Exelon has 5.2 million electricity customers and, in the Philadelphia suburbs, 460,000 natural gas customers.

In June, 2005 Exelon had full or majority ownership of 19 nuclear reactors in 11 nuclear power plants.