Xcel Energy announces layoffs amid focus on organizational structure

By KSTP

Dozens of Minnesotans are out of a job following workforce cuts by Xcel Energy.

The Minneapolis-based utility company confirmed Wednesday the layoffs will impact about 150 employees, or around 2% of the company’s non-bargaining workforce. Of those, 60 Minnesotans are affected across several work locations.

A spokesperson for Xcel Energy said the cuts are part of an effort by the company to “build a more efficient, streamlined business” and focus “on having the right organizational structure in place to advance our strategic priorities.”

Xcel Energy also cited continued financial impacts due to inflation, supply chain pressures and increased hiring during the pandemic as challenges the company has been dealing with and continues to manage.

“This decision allows us to align our organizational structure with evolving business and customer needs to ensure we’re positioned to succeed over the long term,” the spokesperson added.

It comes one week after the company, as well as Centerpoint and Minnesota Power, requested rate hikes for natural gas customers.

As previously reported by 5 EYEWITNESS NEWS, their requests were made last Wednesday to the Minnesota Public Utility Commission (PUC). Xcel requested a 9.6% increase, amounting to roughly $7 a month for the “typical residential gas customer.

The news also comes the same week another Minneapolis-based company, Sleep Number, announced job cuts.