Swedish state-owned power company says it needs to adapt to a new reality with cost cuts of 3 billion SEK and another one and a half a billion next year. This may mean some 2500 employees leaving the company, the firm admitted. Vattenfall describes low electricity demand, oversupply of CO2-emission allowances and production overcapacity going forward.
Other measures will include non-core asset divestments and lower CAPEX. Almost two thirds of the redundancies or around 1500 are in Germany with facilities in Berlin, Hamburg and Cattbus taking the main hit. In Sweden a reduction of around 400 people is expected leaving the Netherlands with 500 lost jobs and a few dozen job cuts in remaining geographies.
No comments:
Post a Comment