Edison Mission Reorganizes, Lays Off 100
Edison Mission Energy, the global independent power production subsidiary of Rosemead, CA-based Edison International, is quietly retrenching and reorganizing its worldwide presence in a move that has resulted in 100 workers being laid off.
Edison Mission is a multi-billion-dollar operation that has been around since 1986 and contributed about 20% of the parent company's revenues last year.
Some functions are being decentralized to regional offices, and with this about 100 people are being laid off in California and overseas. Mission Energy has mostly expanded in the U.S. lately with major domestic purchases of existing fossil fuel plants, and has an assortment of new and existing power plants in Europe, Asia and Australia.
The company's major holdings in the United Kingdom caused a stir in the financial community earlier this year because at least two of its generating plants there are expected to be adversely affected by a regulatory change in the UK that puts tighter restrictions on power plant earnings.
"The UK regulatory situation is certainly an issue, but not a real driver," said Randall Oliver, Edison Mission Energy's spokesperson. "We're looking at our entire operations across the company."
The reorganization will leave the organization with more than 3,000 employees, many of whom have been added with the purchase of major existing power plants in the U.S. and UK
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