NV Energy offering buyouts

NV Energy executives said last week the company has offered voluntary separation packages to its employees, but it doesn't know how many if any of the offers will come to fruition.

The utility, which employs about 1,300 people in northern Nevada, part of a statewide workforce of 3,200, looks to the voluntary buyouts as a potential cost-cutting measure.

Michael Yackira, president and chief executive of NV Energy, told securities analysts last week that the voluntary separation packages were offered both to unionized and non-unionized employees of the company.

"There is a period of time that they have to make a decision whether or not they want to opt in to that program," Yackira said. "That time is now ticking."

He said the company doesn't have a targeted number of employees that it expects to accept the buyouts.

Later, NV Energy spokesman Rob Stillwell said the voluntary separation process involves two steps. If employees decide to accept a buyout, the company's management then will decide if the employee's departure would damage customer service.

"We don't have a number in mind," Stillwell said. "We're about positioning the company for the future."

Yackira said the company expects that NV Energy will know by year-end how many of the voluntary separations come to reality.

The company didn't disclose specifics of its offers to employees.