Vistra Energy Wraps up Dynegy Merger with 300 Layoffs

More than 300 workers lost their jobs this week in Houston following Vistra Energy Corp.’s acquisition of Dynegy Inc.
Vistra informed the Texas Workforce Commission it was laying off 308 workers effective June 11.

“These employees were asked by Vistra Energy if they would be interested in relocating to North Texas; many declined,” a Vistra spokeswoman told the Houston Business Journal via email. “Vistra has worked closely with Dynegy’s people and complied with the letter and spirit of the law. (The Worker Adjustment and Retraining Notification Act) requires a 60-day notice, which we have provided.”

The move came after Vistra, based in Irving, Texas wrapped up the $1.74 billion all-stock deal which was originally announced last fall. Vistra said the combined company would vacate Dynegy’s headquarters were 370 employees worked at the time. One report indicated many of the employees were offered positions in north Texas but declined.

Affected employees will continue to receive their salaries and benefits until their termination dates, after which they will be eligible for severance, the spokeswoman said, noting that the departure dates vary. Chicago-based Challenger, Gray, & Christmas is providing on-site outplacement assistance, such as “personal career counseling and training to each individual employee,” she said.