Dive Summary:

• The New Orleans-based Entergy said Tuesday it will cut 800 jobs, or 5% of its 15,000-strong workforce, after 2Q earnings fell dramatically.
• The layoffs are part of Entergy's reorganization plan to save up to $250 million by 2016.
• Higher expenses and a lack of favorable tax terms on financing power lines damaged by hurricanes Katrina and Rita dropped Entergy’s 2Q net income by 55% compared to last year’s second quarter.

From the article:

“Entergy earned $163.7 million, or 92 cents per share, for the three months ended June 30. That compares with $365 million, or $2.06 per share, a year earlier.”