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From an article by Richard Ryman in the Green Bay Press Gazette:
Integrys Energy Group reported a $51.1 million profit in the third quarter, but warned Thursday that challenging times are ahead.
Company leaders said they will furlough all nonunion employees for one week in 2010 and also are planning job cuts, some at least related to the downsizing of the Integrys Energy Services subsidiary.
"The continued impact of the economy is really causing us to take even more aggressive actions to maintain our costs and make sure we take some of those costs permanently out of the system," Charles Schrock, president and CEO, said Thursday during a conference call with analysts.
The Chicago-based utility holding company is continuing a general hiring freeze in place for more than a year, is restricting travel, reducing the use of outside contractors and changing a retirement benefit plan for most new employees.
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