Exelon: ‘Most Impactful’ Merger Cuts In Baltimore

BALTIMORE (AP) — A top Exelon Corp. executive says the Baltimore headquarters of Constellation Energy Group will see the “most impactful” job cuts as part of a $7.9 billion merger deal.

Documents filed Tuesday with the Securities and Exchange Commission show that Christopher Crane, president and chief operating officer of Chicago-based Exelon, told executives that an undetermined number of cuts will affect legal, information technology, financial and other corporate positions.

The deal would create the largest competitive power supplier in the United States, serving 6.6 million customers in Maryland, Illinois and Pennsylvania.

The Baltimore Sun reports that corporate-related layoffs were expected. However, Constellation and Exelon have said Baltimore is expected to gain jobs overall because Exelon will relocate some businesses and employees to Baltimore.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


One Comment

  1. Charles says:

    I hope the CEG stock goes up. Part of my retirement fund was used to buy CEG at $61 a share……..what an idiot I am.

  2. Madman says:

    Back in April ,while this deal was going through , Mayor Rawlings-Blake said the merger would create jobs.

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