AEP to cut 100 accounting and finance jobs, half of them in Columbus – Business – The Columbus Dispatch
American Electric Power will cut around 100 jobs as part of a plan to streamline operations by transferring some accounting and tax functions to an outside company, the Columbus-based company said Thursday.
About half of the jobs are in Columbus and about 40 in Canton. The remaining jobs are in Tulsa, Oklahoma.
AEP said it will begin transferring work to professional services firm Accenture over the next few months and next spring. The AEP will determine during the transition the exact number of jobs to be cut.
The company said it would offer affected employees the opportunity to apply for other jobs at AEP.
Some of the employees may be eligible for retirement. Those who cannot find another job will be entitled to severance pay and outplacement services.
AEP will make the cuts in groups.
The company will begin moving work in July and jobs will be cut in the fall, AEP spokeswoman Tammy Ridout said. Most of the affected workers in Canton will be part of this group.
The transition for the remaining groups will likely begin in December or January and continue through early 2019, she said.