Friday, utility company Ameren Corp. (AEE), said it would eliminate approximately 3% of its workforce or 300 positions through a combination of voluntary and involuntary separation programs by December 31. To cover the cost of these programs, the company recorded a pretax charge of $17.5 million in its results for the third quarter ended September 30, reported on October 23.
According to Ameren, separated employees have been offered separation benefits consistent with its standard severance program. Further, if applicable, separated employees will receive certain other benefits, such as outplacement or financial planning assistance, health insurance premium subsidies and tuition reimbursement, the company said.
Thomas Voss, President and Chief Executive Officer said, "We know we must build a more streamlined organization to compete effectively in an environment where costs are rising, energy usage by large industrial customers has dropped and market prices for our merchant generation power have declined significantly."
"This initiative along with the deferral of certain capital expenditure programs and the reduction of many other expenses are part of our continued efforts to maintain our financial strength and flexibility and to deliver solid, long-term returns for our shareholders, while offering high-quality, reliable service to our customers," Voss added.
St. Louis, Missouri-based Ameren currently has a total workforce of approximately 9,700 employees.
AEE is currently trading at $24.62, down $0.13 or 0.53% on NYSE.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.