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600 Workers Take TVA Buyout as Utility Seeks to Cut $1 Billion in Spending

A spokesperson for the Tennessee Valley Authority (TVA) confirmed that about 600 of the utility’s employees have taken buyouts. Some workers left the company starting in May, while others will exit by the end of September. The TVA on August 21 said the move is part of a plan to reduce costs as the federally owned utility tries to cut nearly $1 billion in spending by 2026.

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