“Uniper wants to cut 500 jobs”

German utility E.ON’s fossil-fuel subsidiary Uniper plans layoffs and wage cuts due to challenges caused by the country’s transition to low-carbon energy generation, Rheinische Post reports. During collective negotiations with trade unions Verdi and IG BCE, Uniper is said to have demanded cuts in wages and grants by up to 25 percent, and to cut around 500 of its 13,000 jobs, according to the report. The company introduced an austerity programme last year that is supposed to reduce costs by 400 million euros annually until the end of 2018. In 2016, Uniper incurred 3.2 billion euros in losses and has not ruled out a negative balance for 2017 as well, Rheinische Post writes. The company itself did not comment on its austerity measures, it adds.

Read the article in German here.

For background, see the CLEW factsheet E.ON shareholders ratify energy giant’s split.