Ummmm lottsa things are affected by the economy but I dont see a utility being affected much. After all they have the same customers year after year, add new ones every day, and sell the same product today using the same infrastructure they did 20 yrs ago.They are quick to say that we are now in a global economy but my question would be what if anything do they sell or buy globally? If the summers are hotter the demand is greater and if the winters are colder the demand is greater.......... Nothing global about that..
I think the driving factor in reductions of the workforce is due to 2 things. Corporate greed and accounting tricks. They allow the infrastructure to deteriorate ( no maintenance requires less people) and when it does fail they simply wait for the next storm and write it off as storm damage.
The wages paid at the top of every utility are way out of line and a great many execs have a golden parachute to insure they will continue to be taken care of in the event of a merger or takeover.That comes at a price......... so if they dont hire 3 guys they can afford to increase The executive VPs salary and if they lay off a few more they can cover the costs of his stock options.
And lets look at how their budgets work. As they near the end of each fiscal year every manager looks at his budget and he may find that he is as much as 25% under budget but knowing he can still comply with it he will spend most of it because he knows if he comes in under this year that same budget will be cut next year.
Its actually in their best interest to treat employees badly a few will move on and unburden them of vacation benefits, sick leave, etc.very few of them realize that if you kick the dog enough ,that even though you feed him he may decide to bite you. Corporate thinking is pennywise but dollar dumb.