CenterPoint Energy and Vectren Merger Complete

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CenterPoint Energy and Vectren Merger Complete

The six billion dollar merger between Vectren and CenterPoint is complete, but as the two companies became one some local employees discovered they were out of a job.

Vectren officials didn’t release final numbers of employees impacted by the mass layoff, but they did say two percent of the workforce between the two companies were laid off.

We’re learning a number of Vectren employees were brought in during a closed-door meeting and told they were out of a job. 44News was able to see a number of people walking out of the building Friday with boxes.

This comes a day after the Public Utilities Commission of Ohio approved the deal between Houston-based company-CenterPoint Energy and Vectren.

We’re still working to learn how many employees were impacted in the Tri-State, but we do know laid-off employees were given a comprehensive severance package.
Employees not at the officer-level were informed today and in addition to the laid-off workers, Vectren CEO Carl Chapman and several other officers were officially let go.

“Today, we come together as one company. With a greater level of business operations, resources and capabilities, we plan to execute a unified business strategy focused on the safe and reliable delivery of electricity, natural gas and energy-related services,” said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy. “It is a time of transformation for our industry, and I believe CenterPoint Energy will be well positioned to deliver traditional energy services with innovative solutions that meet customers’ evolving needs and expectations.”

Right now were working to learn which departments were impacted and an exact number of employees affected by the layoffs.

44News did check in with the Indiana Department of Workforce Development and they confirm they have not received any information from the company about the so called layoffs.

Vectren officials say the foundation remains untouched and customers shouldn’t experience any interruptions in their service.

2 COMMENTS

  1. Kinda like the corporate version of Oama telling us that we get to keep our doctor and premiums will fall.

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