About 1,400 workers take Dominion Resources buyout offer; company had expected 1,000 to accept

About 1,400 take Dominion buyout offer

RICHMOND, Va. — Dominion Resources says about 1,400 workers have accepted buyout offers from the energy provider. That represents about 8 percent of the company’s work force.

Dominion, which is based in Richmond, said last month that it was offering buyouts to about 4,800 workers as part of a cost-cutting measure and expected only about 1,000 to accept the voluntary severance package. The program began in early January at specific plants and was expanded companywide in March.

Spokesman Ryan Frazier says even though more people agreed to the buyouts, the company accepted nearly all of them.

Dominion has about 17,200 employees in the 14 states it operates, including about 10,000 in Virginia. It did not provide a breakdown of where the buyouts occurred.