Power company Calpine lays off 300 employees (10% of workforce)

[Bush_Eats_Beef]

Calpine changes focus, cuts jobs

MORE EMPHASIS ON SALES TO UTILITIES

By Matthai Chakko Kuruvila, Mercury News

http://www.siliconvalley.com/mld/siliconvalley/13774289.htm

Calpine on Wednesday announced layoffs of roughly 10 percent of its workforce, or about 300 workers, the first of many steps the San Jose power producer expects to take on its path out of bankruptcy.

Spokeswoman Katherine Potter would not say how many of the layoffs would be at its San Jose headquarters, where the company has about 200 of its 3,200 employees.

The layoffs are part of Calpine's plan to focus on its core North American power generation business. The company indicated that it will make other changes to direct more attention toward winning contracts to provide power to utility companies.

``These actions are the first step toward a new business plan that will serve as the foundation for ultimately developing Calpine's plan of reorganization,'' Potter said. Before it filed for Chapter 11 bankruptcy protection in December, Calpine had a more freewheeling approach, selling electricity to both utilities and large businesses.