Pittsburgh-Based Natural Gas Company Restructures as Competition Increases.

From: Knight Ridder/Tribune Business News | Date: December 16, 1998| Author: | Copyright information

Knight Ridder/Tribune Business News

Dec. 17 -- Consolidated Natural Gas Co., continuing to shake things up, announced yesterday it will lay off about 260 employees next year, or roughly 4 percent of its work force.

The announcement is the latest blow in the storm that has buffeted the Fortune 500 company for the past year as competition heats up in the energy industry. CNG continues to look for a new chief executive officer to replace the retiring George A. Davidson Jr. Rumors have swirled regularly that the company will be swallowed up by another firm.

In the spring, ...

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