The Baltimore headquarters of Constellation Energy Group, which agreed to sell itself to Chicago-based Exelon Corp., will see the "most impactful" job cuts related to the $7.9 billion deal, according to a top Exelon executive.
In a meeting with Exelon executives on Aug. 10, Exelon president and chief operating officer Christopher Crane said an undetermined number of cuts will affect legal, information technology, financial and other corporate positions, according to documents filed Tuesday with the Securities and Exchange Commission.
Corporate-related layoffs were expected because of consolidation and job redundancies under the deal, but Constellation and Exelon have said Baltimore is expected to have net positive jobs. That's because Exelon will relocate some of its businesses — and its employees — to Baltimore.
"What we will look at is how do we get to our right numbers with everybody with a smile on their face," said Crane in a transcript of the meeting. "It most likely won't be possible in Baltimore and we've been very open with the folks there, but we also have people that are willing to move to Chicago, some folks in Chicago that raised their hand and said look, I'll take a package and, so, we have to manage that properly 'cause you can't do mass packages. But I think there's a way we can do it where it's less impactful."