According to a statement released late Monday afternoon from its parent corporation, Dayton Power & Light (DP&L) will cut approximately 60 jobs in Ohio as part of a restructuring this year. The utility provides electricity service for significant portions of Champaign County and Urbana.
The AES Corporation (NYSE: AES) and its subsidiaries DP&L and Indianapolis Power & Light (IPL) announced organizational and structural changes as part of a reorganization that will “simplify its portfolio, optimize its cost structure, and reduce its carbon intensity.”
AES “will align their structure and reshape the workforce,” which will lead to the job reductions in Ohio by the end of the second quarter of 2018. Approximately 100 jobs will be lost in Indiana in addition to the 60 in Ohio, according to the statement from AES.
As part of the new structure, Craig Jackson will assume the role of president and chief executive officer for both IPL and DP&L on March 31. Jackson has served as CFO for IPL and DP&L for the past five years.
Ken Zagzebski will assume the role of Executive Chairman of the Board of IPL and its holding company, IPALCO, as well as for DP&L and its holding company DPL Inc.
“While these changes are difficult, they will allow us to improve efficiency and continue modernizing our infrastructure while maintaining affordable electricity for our customers,” said Zagzebski. “This transformation will enhance our performance, and support investments in new energy solutions that will make a positive economic contribution to both Indianapolis and Dayton.”