Western to cut staff
By SSN Staff
Updated Tue January 1, 2002
TOPEKA, Kan.-Protection One parent Western Resources said in December it expected to reduce its work force by 214 people by year end and that the company will incur a fourth-quarter charge of about $25 million related to the cuts.
The company owns about 80 percent of Protection One and expects to experience a decline in cash flow from its Kansas utility operations, due in part to a rate cut ordered by state regulators in July.
Westar Industries, the Western Resources subsidiary that owns Protection One and interest in Florida-based installer Guardian International, expects to receive $10 million in interest and $6 million in fees from Protection One in 2002 and $1 million in dividends from Guardian.
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