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| Calpine starts with a renewed focus on what it does best Calpine Corporation announced the initial steps of a comprehensive program designed to stabilize, improve and strengthen the company's core power generation business and its financial health. Calpine is reducing activities and curtailing expenditures in certain non-core areas and business units, resulting in a staff reduction of approximately 300 positions. Combined with other cost reduction measures, including the closure of non-core offices, these actions are expected to reduce annual operating costs by approximately $50 million. Calpine is completing construction projects with long-term power sales commitments and is exploring the opportunity to sell this business unit. The company continues to evaluate those projects without long-term power sales agreements. Founded in 1984, Calpine is a major North American power company, capable of delivering nearly 27, 000 megawatts of clean, reliable electricity to customers and communities in 21 U.S. states and three Canadian provinces. write your comments about the article :: © 2006 Construction News :: home page |