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| Calpine Announces Additional Cost-Cutting Measures Calpine Corporation announced steps to streamline the company, reduce costs, and improve Calpine's overall organization as part of its restructuring. Calpine has identified for potential sale a number of non-core and non-strategic power plants. The company is also closing three additional offices, and, as the company completes asset sales and construction activities, will reduce its workforce by 775 employees. A systematic review of the entire company has identified approximately 20 power plants in operation or under construction that are no longer considered to be core operations due to a combination of factors, including financial performance, market prospects, and strategic fit. Accordingly, the company will be seeking to sell the majority of these assets by the end of 2006. At the completion of this effort, Calpine expects to retain a generating portfolio of clean and reliable geothermal and natural gas-fired power plants located in key North American markets. Calpine has initiated measures to close offices in Atlanta, Ga., Boston, Mass., and Dublin, Calif. Day-to-day business operations will be primarily consolidated into Calpine's San Jose, Calif. headquarters as well as offices in Houston, Texas, and Folsom, Calif. write your comments about the article :: © 2006 Construction News :: home page |