Fifty jobs are to go at the Manx Electricity Authority.
The redundancies will be made through early retirement - they amount to a 17% reduction in staffing levels and will save ?1.5 million per year.
The news comes as the long-running investigation in the MEA's finances reaches the courts.
The case, being brought by external auditors KPMG, will focus on whether the MEA broke the law when it took external loans worth ?120 million without Treasury permission.
MEA Chief Executive Ashton Lewis says the job losses do not mean they have been overstaffed:
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