BUSINESS
10/12/2011 10:20 EDT | Updated 12/12/2011 05:12 EST

BC Hydro cutting 300 jobs this week, more reductions to come

VANCOUVER - British Columbia's power utility says it's cutting its workforce by 300 people this week.

BC Hydro says it's part of a workforce reduction that will see staff reduced by about 700 positions over the next three years.

The utility has already cut 250 positions.

President and CEO Dave Cobb says the utility needs to keep power rates low for families and businesses.

He says BC Hydro is making changes to become a leaner and more efficient organization, too.

This past August, a government review panel recommended BC Hydro cut up to 1,200 jobs.