Valero plans to use early retirement incentives to cut 100 jobs at Paulsboro refinery

Valero says it will eliminate jobs at NJ refinery

PAULSBORO, N.J. — Valero Energy Corp. says it plans to eliminate 100 jobs out of the 550 it has in its Paulsboro plant by year’s end.

The nation’s largest independent refiner says the struggling economy has reduced demand for fuel while costs have risen.

San Antonio, Texas-based Valero told employees Thursday it will seek voluntary retirements from both union and salaried workers.

Spokesman Bill Day says the offers will be attractive to workers.

Last month, Valero said it would idle two units at its Delaware City, Del., plant, cutting about 150 jobs.