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TVA expected to offer incentives to cut staff, expenses in 2014

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CHATTANOOGA, TN (Times Free Press) -

Despite the improving job market, one of Chattanooga's biggest and best-paying employers plans to cut its staff in the new year.

The Tennessee Valley Authority, which employs nearly a third of its 12,612 employees in the Chattanooga area, is expected to announce in January the next steps the agency will take to help trim $500 million in operating and maintenance expenses from its annual budget. In a meeting with TVA employees earlier this month, TVA President Bill Johnson hinted that the agency will ask for voluntary resignations and retirements, probably in January, in selected organizations at TVA.

Last year, TVA cut 700 employee and contractor jobs through cutbacks at its Bellefonte Nuclear Plant in Alabama and reductions at coal plants being shut down or scaled back due to a drop in power demand and stricter pollution control requirements.

Even more cuts are likely in 2014.

Read more from our news partners at the Chattanooga Times Free Press.

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