TransAlta cuts 165 jobs to boost growth

Power producer expect to save up to $30 million by 2014.

October 31, 2012
by The Canadian Press

CALGARY—Power producer TransAlta Corp. says it is cutting 165 jobs over the next six months as part of its plan to accelerate growth.

A majority of the cuts will come from its Calgary office.

The Calgary-based company said the move will strengthen the company’s competitive position.

It also expects annual cost savings of about $25 to $30 million from the realignment by the end of 2013.

TransAlta announced last week it is partnering up with a US company to build new natural gas-fired power plants that will help meet burgeoning electricity demand driven by growing energy development in western Canada.

The Calgary-based power generator announced the agreement last week with Iowa-based MidAmerican Energy Holdings Co., a subsidiary of billionaire Warren Buffett’s company, Berkshire Hathaway.

©The Canadian Press