FirstEnergy is on a path of self destruction, problem is they're taking us with them.

Just one week after announcing fourth quarter profits were up 24%, FirstEnergy is going to cut 335 jobs.

FirstEnergy Corp. plans 335 job cuts

AKRON, Ohio (AP) - Electric power company FirstEnergy Corp. plans to cut 335 managers and support staff, including 216 in Ohio. The Akron, Ohio-based company said Tuesday that the reduction is part of a larger effort to improve efficiencies and respond to the global economic downturn. Sixteen job cuts will take place in New Jersey, and the remaining 103 in Pennsylvania. The reduction represents about 4 percent of the company's nonunion work force. It also comes a week after FirstEnergy said its fourth-quarter profit rose 24 percent to $332 million, or $1.09 per share, on revenue of $3.2 billion. FirstEnergy says it expects to take a one-time, after-tax charge of $16 million for severance-related benefits. FirstEnergy's power plants supply electricity to customers in Ohio, Pennsylvania and New Jersey.

The $16 million for "severance-related benefits" divided among 335 people is nothing compared to the $29,769,784 the combined total pension benefits for the 6 Executive Officers, the CEO's is $13,666,167 alone.

For all of 2008, FirstEnergy earned $1.34 billion, or $4.38 per share, versus $1.31 billion, or $4.22 per share, in 2007. Revenue was $13.6 billion in 2008, compared with $12.8 billion in 2007.