AEP to cut up to 10 percent of its workers

Sluggish demand for power is consistent with a struggling economy. According to the statistics, the economy should be booming. Maybe it's just the statistics that are booming.

American Electric Power Co. Inc., one of the nation's largest power generators, will trim its work force by as much as 10 percent and take other cost-saving steps to cope with sluggish demand.

"We must realign our cost structure to the new economic realities we now face and find significant savings this year that are sustainable," he stated.

Source: finance.yahoo.com