Constellation to cut trading jobs-newspaper

NEW YORK, Dec 4 (Reuters) - Constellation Energy Group (CEG.N) will cut as much as 8 percent of its workforce, or 800 positions, mostly in its commodities trading group because of weak financial markets, the Baltimore Sun reported on Thursday.

A company spokesman was not immediately available to comment on the story.

Constellation, which is a major energy trader, power generator and the owner of utility Baltimore Gas & Electric, is the object of a takeover battle between Warren Buffett's MidAmerican Energy Holdings Co (MDPWN.OB) and French EDF (EDF.PA).

MidAmerican, owned by Berkshire Hathaway (BRKa.N), has offered $4.7 billion to buy the company, although EDF offered earlier this week to buy a 50 percent stake in the company's nuclear power business for $4.5 billion, plus an option to take a stake in other assets for $2 billion.

Constellation, which has recommended its shareholders approve the MidAmerican takeover, was nearly forced into bankruptcy after it disclosed it could face billions in collateral requirements related to its trading positions if its debt was downgraded.

That sparked a sharp drop in its stock and prompted it to seek a buyer. (Reporting by Matt Daily; Editing by Lisa Von Ahn)