TransAlta expects to save $25M by cutting 239 positions, mostly in Calgary

CALGARY – Power company TransAlta Corp. (TSX:TA) has announced it’s cutting 239 jobs as it looks to drive down costs.

The reductions, with savings of $25 million, are mainly at the Calgary head office of the electricity generator and marketer.

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The latest layoffs are on top of 247 positions TransAlta cut earlier this year in its Canadian coal mining unit.

All together, the company expects to save $47 million this year from the restructuring.

It says ongoing economic and regulatory uncertainty has made it necessary for TransAlta to trim its workforce.

Chief financial officer Donald Tremblay says TransAlta’s goal is to be profitable in all market conditions.

Editor’s note: A previous version had $22M in savings in the headline; that has since been updated to $25M.