The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Utilities Electricity, Gas, Steam And Air Conditioning Supply Electricity, Gas, Steam And Air Conditioning Supply 35.1 - Electric power generation, transmission and distribution
500 jobs Number of planned job losses
Announcement Date
4 November 2015
Employment effect (start)
4 November 2015
Foreseen end date
31 December 2015
Description
German electric utilities company Rheinisch-Westfälisches Elektrizitätswerk (RWE) will cut 500 positions in its electricity generation divisions by the end of 2015. According to the company the job reduction is due to an attempt to cut costs.
In 2013 RWE already announced job reduction plans affecting about 2,500 jobs in Germany, the United Kingdom and the Netherlands. Job cuts were justified with the declining electricity prices. An top of that, RWE has been facing low utilisation of its gas and coal power stations. According to RWE's CEO if electricity prices continue to decline, RWE will follow the example of its competitor E.ON and outsource its power plant division.
Sources
4 November 2015: Frankfurter Allgemeine Zeitung Online
4 November 2015: Focus Online
5 November 2015: Badische Zeitung Online
Citation
Eurofound (2015), RWE, Internal restructuring in Germany, factsheet number 85444, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/85444.
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