New owner of SCE&G offers buyouts after SCANA purchase
COLUMBIA, S.C. (AP) – Dominion Energy is offering buyouts less than three months after purchasing the parent company of South Carolina Electric & Gas.
Local media report the Richmond, Va.-based utility’s offer is open to nearly all Dominion employees 55 and older who have at least three years with the company.
The offer includes nearly 1,300 of the 5,000 employees who worked for SCANA before it was purchased by Dominion.
The Cayce-based SCANA was the parent company of South Carolina Electric & Gas before the purchase.
The Post-Courier reports that Dominion CEO Tom Ferrell wrote in a letter to employees that a merger creates “opportunities for new efficiency and cost savings” and early retirement packages are often offered after a merger.
The State reports that Dominion was required by the Public Service Commission to pay employees’ salaries through at least July 1 of next year even if they lose their job.