LOS ANGELES, Calif.—The head of Los Angeles Department of Water and Power announced today that he will slash its budget by $440 million over three years.
The cuts, effective immediately, include a three-year hiring freeze, the elimination of take-home cars and computer purchases. The city-owned utility also will cancel purchases of property and trucks.
Ron Nichols, appointed in January to run the agency, said he anticipated the hiring freeze would prevent about 500 positions from being filled over the three-year period.