Consumers Energy is a billion dollars in debt. The company is in the midst of a major financial restructuring, which will include the elimination of between 200 and 300 jobs. Of those jobs, officials say only 100 employees will be laid off. The rest will be reassigned to different positions.
Jackson will likely be the hardest hit. The area has 2,000 Consumers employees, and many of the lay-offs will come from the area. Officials say they're asking managers to take a look at their workers, and come up with some cost cutting measures.
Some of the lost jobs may come from retirees. Those positions will go unfilled.
The company's stock prices have plummeted in the past year. Consumers Energy says the high cost of natural gas and an unusually cold winter have added to their financial woes.
The company expects to have their financial restructuring done by mid-summer.