CALGARY, ALBERTA -- (Marketwire) -- 10/30/12 -- TransAlta Corporation (TSX: TA) (NYSE: TAC) announced today as part of its ongoing strategy to continuously improve operational excellence and accelerate the growth of the company, that it is realigning the talent of the organization. These actions will result in a net reduction of approximately 165 positions over the next six months, the majority of which will be from the Calgary office. This move strengthens TransAlta's competitive position now and in the future.
"We extend our gratitude to our departing colleagues for their important contribution to TransAlta and wish them well as they move to the next chapters of their careers," said Dawn Farrell, president and CEO of TransAlta. "We expect these changes will improve our competitive position in the Alberta and Canadian power markets."
The company expects to incur a one-time after-tax charge in the 2012 fourth quarter of $10 to $15 million related to the corporate realignment initiatives announced today. TransAlta anticipates annual cost savings of approximately $25 to $30 million from these initatives by the end of 2013.
TransAlta is a power generation and wholesale marketing company focused on creating long-term shareholder value. TransAlta maintains a low-to-moderate risk profile by operating a highly contracted portfolio of assets in Canada, the United States and Australia. TransAlta's focus is to efficiently operate geothermal, wind, hydro, natural gas and coal facilities in order to provide customers with a reliable, low-cost source of power. For over 100 years, TransAlta has been a responsible operator and a proud contributor to the communities in which it works and lives. TransAlta has been selected by Jantzi-Sustainalytics as one of Canada's Top 50 Socially Responsible Companies since 2009 and is recognized globally for its leadership on sustainability and corporate responsibility standards by FTSE4Good. TransAlta is Canada's largest investor-owned renewable energy provider.
Senior Corporate Relations Advisor
Director, Investor Relations