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National Grid To Lay Off 1,200 In Restructuring

Electric and natural gas utility National Grid is announcing a major reorganization of its U.S. operations that will cost 1,200 jobs, which the company says will improve service and save $200 million.

National Grid said Monday that the restructuring takes effect in April.

Tom King, president of National Grid US, will assume responsibility for all U.S. business segments, while new regional presidents will be appointed for Massachusetts, New York and Rhode Island/New Hampshire. Each regional president will be responsible for understanding and meeting the needs of customers, communities and regulators in each jurisdiction.

U.K.-based National Grid serves 3.3 million electric customers and 3.4 million natural gas customers in New England and New York.

Employees laid off will be eligible for severance.

This program aired on January 31, 2011. The audio for this program is not available.

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