Dominion Merger Integration Effort Identifies 700 Positions to be Eliminated in New Company.Businesss Editors RICHMOND, Va.--(BUSINESS WIRE)--April 20, 2000 Dominion dominion, power to rule, or that which is subject to rule. Before 1949 the term was used officially to describe the self-governing countries of the Commonwealth of Nations—e.g., Canada, Australia, or India. (NYSE NYSE See: New York Stock Exchange : D) today announced that it expects to eliminate 700 positions as part of a post-merger integration expected to save at least $75 million in 2000 through voluntary and involuntary involuntary adj. or adv. without intent, will, or choice. Participation in a crime is involuntary if forced by immediate threat to life or health of oneself or one's loved ones, and will result in dismissal or acquittal. INVOLUNTARY. job reductions, consolidations, improved efficiencies and increased use of advanced technology. Dominion completed its merger with Consolidated Natural Gas of Pittsburgh on January 28, creating the nation's largest fully integrated natural gas and electric power company, with nearly 4 million customers in five states served by a work force of 17,000. The company also expects to adopt best business practices from both companies as part of its effort to improve efficiencies. About half of those employees affected by the eliminated positions have been notified and have already left the company. Remaining reductions are expected during the balance of the year through an early retirement program open until May 17, a voluntary severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when program until June 30, and additional involuntary severances should they remain necessary when the programs close. One-third of employees who have already left elected to do so. Bill Mistr, vice president-merger integration, said: "The vast majority of these positions are in corporate support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services in Richmond and Pittsburgh, as we've said from the beginning. While there will be efficiencies in our operating companies operating company A business that engages in transactions with outsiders. , the primary focus is on enhancing and improving customer service at all levels to prepare for competition." Dominion cannot specify the exact number of jobs being eliminated in each of the five states where the company has significant operations because the process of notifications and reductions is ongoing. |
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