Over 1,100 employees at Progress Energy and Duke Energy have volunteered for an early out program as the companies look to cut nearly 1,900 positions in anticipation of their planned merger.
The greatest number of those who came forward work in North Carolina, where Progress plans to eliminate its corporate headquarters when it consolidates operation with Duke in Charlotte.
That means Duke and Progress will still have to eliminate several hundred more jobs through a combination of layoffs, retirements and resignations. The staff cuts will take place over the next three years as the company seeks to eliminate a total of 1,860 positions during that time.
Most of the staff cuts will come through the voluntary buyout program offered several weeks ago at the two North Carolina electric companies. They said today that 1,153 workers have signed up to leave as part of a voluntary buyout program. They will be paid a severance based on the length of their tenure with the companies.