Insiders say another 200 were let go last week, across many groups. They are supposedly "streamlining" the energy group, as I was told after they brought in this new President of Power, an ex-Siemens guy with no engineering background; he's a salesman. It has caused a lot of disarray and some don't even know who their supervisor is anymore. The stock has gone down since his arrival, and there have been countless layoffs.
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Interesting. The energy market is changing and what utilities need is changing. Might it be fewer traditional power plant upgrades and conversions combined with an influx of fresher alternative energy firms such as RES outselling B&V?