Is Ascent realignment sign of a turnaround at the St. Thomas utility?


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Is the latest grim news over at Ascent in reality a turning point for the beleaguered St. Thomas utility?

In a phone conversation Friday with acting CEO John Laverty, he confirmed rumors swirling on social media of further layoffs.

“We had a small number of folks we let go,” noted Laverty, “but we added the same number back in different areas of the company. So the net loss to the corporation is zero.

“It’s realigning some of the business units, ones that were not being financially productive and we were running out of work for them. Continue reading