8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  February 24, 2009

Commission File Number	Registrant; State of Incorporation; Address and Telephone Number	IRS Employer Identification No.
1-11459	PPL Corporation (Exact name of Registrant as specified in its charter) (Pennsylvania) Two North Ninth Street Allentown, PA  18101-1179 (610) 774-5151	23-2758192
1-32944	PPL Energy Supply, LLC (Exact name of Registrant as specified in its charter) (Delaware) Two North Ninth Street Allentown, PA  18101-1179 (610) 774-5151	23-3074920
1-905	PPL Electric Utilities Corporation (Exact name of Registrant as specified in its charter) (Pennsylvania) Two North Ninth Street Allentown, PA  18101-1179 (610) 774-5151	23-0959590

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2 - Financial Information

Item 2.05 Costs Associated with Exit or Disposal Activities

On February 24, 2009, PPL Corporation (“PPL” or the “Company”) issued a press release announcing that a cost reduction initiative has resulted in the elimination of approximately 200 management and staff positions across the Company’s U.S. operations, or approximately six percent of the Company’s non-union, U.S. workforce.  It is anticipated that separation of most of the affected employees will be completed by the end of February 2009.

As a result of the workforce reductions, the Company will take a one-time after-tax charge in the first quarter of 2009 of between $12 and $15 million, or $.03 to $.04 per share.  The costs to be incurred by PPL will consist primarily of enhanced pension and severance benefits under PPL’s Pension and Separation Policy.  PPL estimates that the workforce reductions will reduce pre-tax annual operating expenses by $20 to $25 million.

As part of the total workforce reduction, PPL Energy Supply, LLC will eliminate certain management and staff positions and record a one-time charge for the three months ended March 31, 2009.  The amount of that charge has not been determined, but will include an allocation of costs associated with the elimination of positions at PPL Services Corporation, the wholly owned subsidiary of PPL that provides shared services to PPL and its subsidiaries.

As part of the total workforce reduction, PPL Electric Utilities Corporation will eliminate certain management and staff positions and record a one-time charge for the three months ended March 31, 2009.  The amount of that charge has not been determined, but will include an allocation of costs associated with the elimination of positions at PPL Services Corporation.

Section 7 - Regulation FD

Item 7.01 Regulation FD Disclosure

A copy of the press release referred to in Item 2.05 above is furnished as Exhibit 99.1 to this report.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(d)	Exhibits
	99.1 -	Press Release, dated February 24, 2009, announcing PPL workforce reductions.

Forward-looking statements: The Company’s expected costs and savings in connection with its workforce reduction are subject to certain assumptions and uncertainties, and actual costs and savings could differ materially from the Company’s current expectations.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

PPL CORPORATION
By:	/s/ J. Matt Simmons, Jr.
	J. Matt Simmons, Jr. Vice President and Controller

PPL ENERGY SUPPLY, LLC
By:	/s/ J. Matt Simmons, Jr.
	J. Matt Simmons, Jr. Vice President and Controller

PPL ELECTRIC UTILITIES CORPORATION
By:	/s/ J. Matt Simmons, Jr.
	J. Matt Simmons, Jr. Vice President and Controller

Dated: February 24, 2009

EX-99.1

Exhibit 99.1

Contact: Dan McCarthy, 610-774-5758

PPL Announces Workforce Reductions

ALLENTOWN, Pa. (Feb. 24, 2009) – PPL Corporation (NYSE: PPL) announced Tuesday (2/24) that a cost-reduction initiative will result in the elimination of about 200 management and staff positions across the company’s U.S. operations, about 6 percent of the company’s non-union U.S. workforce.

“These were difficult decisions to make, but they were made in the most equitable way possible based on the business needs in each of our operations,” said James H. Miller, chairman, president and chief executive officer of PPL. “Like all companies, PPL is facing ongoing financial pressures as a result of the recession. We undertook this cost-reduction effort to better position us to weather the current economic crisis and continue to provide excellent service to our customers and competitive returns to our shareowners.”

Miller emphasized that the company is continuing to provide the necessary personnel and resources for the safe and reliable operation of all the company’s power plants as well as its electricity delivery system in Pennsylvania.

As a result of the workforce reduction, the company will take a one-time after-tax charge in the first quarter of 2009 of between $12 and $15 million, or 3 to 4 cents per share.   PPL estimates that the workforce reductions will reduce annual operating expenses, on a pre-tax basis, by $20 to $25 million.

PPL Corporation, headquartered in Allentown, Pa., controls or owns more than 12,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity to about 4 million customers in Pennsylvania and the United Kingdom.

Statements contained in this news release, including statements with respect to future earnings charges and cost reductions, are “forward-looking statements” within the meaning of the federal securities laws. Although PPL Corporation believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, these statements involve a number of risks and uncertainties, and actual results may differ materially from the results discussed in the statements. The following are among the important factors that could cause actual results to differ materially from the forward-looking statements:  the company's ability to achieve the expected savings and other efficiencies from its cost reduction initiative; new accounting requirements or new interpretations or applications of existing requirements; and new state or federal legislation or regulations. Any such forward-looking statements should be considered in light of such important factors and in conjunction with PPL Corporation’s Form 10-K and other reports on file with the Securities and Exchange Commission.

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Note to Editors: Visit PPL’s media Web site at www.pplnewsroom.com for additional news and background about the corporation and its subsidiaries.