FPL Group To Slash 300 Jobs (FPL)

FPL Group (NYSE: FPL) has announced incurring CAPEX worth $2 billion on its Florida Power & Light unit. The company is also planning to slash 300 positions.

Florida Power & Light unit is the largest electric utility in Florida. FPL Group is currently going through a rough patch. The Wall Street Journal has reported that the company was recently downgraded by Moody’s Investors Services and Standard & Poor’s Rating Services.

FPL’s president and chief executive officer, Armando J. Olivera, said that the company is trying to contain its operating costs, while continuing to invest in its infrastructure.