US Nuclear operator Exelon Corporation is planning to cut around 500 jobs by the end of August due to a reduction in operations, the company said.

Major spending cuts are expected to reduce operations and maintenance costs by $350m in 2010, representing a 3.5% decrease from 2009 levels.

The company will cut about 400 corporate support jobs, as well as 100 management-level positions at Commonwealth Edison Company (ComEd).

“Eliminating even a single job is painful, but we must reduce the size of our employee team in order to achieve the leaner and more efficient organisational structure required by today’s difficult economic and business circumstances,” Exelon’s chief executive said, John Rowe.