Internal restructuring
Location of affected unit(s)
Electricity, Gas, Steam And Air Conditioning Supply
Electricity, Gas, Steam And Air Conditioning Supply
35.11 - Production of electricity

500 jobs
Number of planned job losses
Job loss
Announcement Date
11 November 2014
Employment effect (start)
11 November 2014
Foreseen end date
31 December 2020


Verbund AG, Austria’s leading electricity supplier company, has announced to cut 355 out of 3,300 jobs by 2020.

The company, a listed corporation which is majority owned by the state, launched an austerity programme in autumn 2013. The generally tense economic situation, contraction of demands and declining profits have made further steps necessary. The management revealed plans to withdraw from thermal electricity production which will affect 80 jobs in Austria but also 30 jobs in France. According to a press release from 11th November 2014 an additional 110 employees in administration and management will lose their jobs and 70 vacant positions will not be refilled.

A social plan negotiated in autumn last year will be available for all newly affected employees. The company is also trying to find new jobs internally.  

Updated 28/09/15: In an interview, head of Verbund, Wolfgang Anzengruber, said the implementation of restructuring plans has been successful. All in all a total number of 500 jobs will have been cut by 2020.


  • 6 November 2014: OÖ Nachrichten
  • 11 November 2014: Die Presse
  • 28 September 2015: Wirtschaftsblatt


Eurofound (2014), Verbund AG, Internal restructuring in Austria, factsheet number 77893, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77893.