This is a generic discussion thread to capture comments about potential Xcel Energy layoffs? Any chatter, news or rumors?
6 replies (most recent on top)
28 layoffs announced in Eau Claire, Wi on the news Wednesday 11/29/23 to take effect later on. "Most of the terminations are anticipated for February 1, 2024, with the others anticipated for March 1."
https://www.wqow.com/eye_on_eau_claire/xcel-energy-laying-off-28-customer-care-workers-in-eau-claire/article_22792868-8f04-11ee-a999-a77d3fefa243.html
As someone else mentioned, earlier in November, cuts in MN, CO, etc. were also announced.
https://bringmethenews.com/minnesota-news/xcel-energy-announces-150-job-cuts-60-minnesota-positions-impacted
https://www.cbsnews.com/minnesota/news/xcel-energy-announces-layoffs-impacting-60-minnesota-employees/
Heard from someone in finance that they’re going to have two more waves in the coming weeks. Not sure where though.
Xcel Energy announced Tuesday 11/08/23 that about 150 employees are being laid off with 59 in the Colorado region (PSCO). They offered A voluntary early retirement package to eligible non union workers about two months ago. They reported that about 400 employees accepted that package.
Employees can expect more layoffs based on the statement today, "Xcel blames "financial headwinds" caused by inflation, supply chain pressures and increased hiring during the pandemic.
“This decision allows us to align our organizational structure with evolving business and customer needs to ensure we’re positioned to succeed over the long term," the statement said in part."
Many employees regularly work 50, 60 or more hours a week due to short staffing even while the company goes through this cut back process. The company did state that the Voluntary Early Retirement positions would not be replaced.
150 people laid off today
Xcel forced RTO in hopes enough employees would quit to help their bottom line. Enough did not and they offered Voluntarily Retirement.
Again, enough have not taken this offer. Whispers of “voluntary” layoffs are upon us. I would imagine mass layoffs in November for a healthy end of the year bottom line and bonus availability, or March 2024 mass layoffs, as April is when bonuses and other monetary incentives are handed out.
Layoffs have begun in the form of not renewing contractors agreements and now they are terminating contracts early. More than half of their corporate staff is contractors so it should help them with their cost reduction measures. Record profit but to keep Wall Street happy, rather than culture healthy, they are increasing employees responsibilities while terminating their peers.