(Update) RWE / Would cut 3,400 jobs

RWE , Germany’s No.2 utility, will be cutting some 2,500 jobs in its power generating business in Germany over the next few years, a source familiar with the plans said on Wednesday.

In a bid to cope with tepid energy demand in Europe as well as loss-making power plants, RWE would also cut jobs in power stations in Britain and the Netherlands, the source said.

According to information obtained by Reuters earlier, some 3,400 jobs may be going in total.

RWE spokespeople declined to comment on the matter, referring to the company’s nine-month results due on November 14 when more details will become available.

In addition, RWE is also planning to halve the number of employees at its renewable energy unit Innogy, which currently employs 1,500, German business daily Handelsblatt reported, citing company sources.

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RWE considers shedding 3,400 jobs – Power Engineering International

Germany’s biggest power producer is looking to rationalise the workforce at its power unit and may shed as many as 3,400 employees.

Bloomberg reports that persons close to the management estimate 2,300 jobs will be lost in Germany, with 900 and 200 jobs lost in the UK and Netherlands respectively.

Annett Urbaczka, a spokeswoman at Essen-based RWE, confirmed that staff at the Generation SE unit will be reduced, while declining to provide a number.

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via RWE considers shedding 3,400 jobs – Power Engineering International.