AGL could cut half of jobs after merger

Utility Australian Gas Light Company (AGL) could cut up to half its remaining jobs following its $6.8 billion merger with Alinta Ltd.
Asked if up to 50 per cent of AGL's approximately 2,000 remaining jobs will go, AGL spokesperson Jane Counsel responded: "It's a target."
"Whether we get to that sort of number, obviously time will tell," she said.
"It's about re-shaping the company going forward into a pure energy play, and as part of this process there will be rationalisation of staff numbers."
The job cuts will take place across the business, Ms Counsel said.
AGL and Alinta agreed on a $6.8 billion merger in April, after a heated takeover battle in the preceding months.
Under the deal, Perth-based Alinta is acquiring AGL's infrastructure business Agility for $6.45 billion, making it Australia's largest energy infrastructure company.
Sydney-based AGL will buy an initial 33 per cent of Alinta's West Australian retail and co-generation business for $367 million, providing it with a national footprint and access to the high-growth west coast market.
Further details about the staff cuts will be available in AGL's scheme booklet, which is expected out in the next few weeks.
AGL shares rose nine cents to $19.06. Alinta shares edged up one cent to $10.63.
© 2006 AAP