MERRILLVILLE, Ind. (AP) - Northern Indiana Public Service Company says it will cut at least 30 jobs and consider postponing some major projects.
The cost-cutting moves come as the company says its industrial electric demand declined 25 percent during the second quarter this year from the same period in 2008, resulting in a $21 million drop in revenue.
The Merrillville-based company also said it was offering a voluntary furlough program for the rest of this year and mandatory two-week furloughs for management employees in 2010.
NIPSCO says it has nearly 2,600 employees, with some 712,000 natural gas customers and 457,000 electricity customers across the northern third of Indiana.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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