Exelon cutting 500 jobs, taking $40 million charge

Exelon Corp. said Thursday it's cutting 500 jobs as it faces "economic challenges confronting all parts" of its business as part of a plan to save $350 million. The Chicago-based power generator expects to carry out most of the job cuts by Aug. 31. Exelon plans to take a second-quarter pre-tax charge of approximately $40 million as part of the program.