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 35.14 - Trade of electricity
1,000 jobs Number of planned job losses
Announcement Date
15 March 2017
Employment effect (start)
15 March 2017
Foreseen end date
31 December 2017
Description
On 15 March 2017, electricity firm Eon announced to cut about 1,000 jobs in Germany. The job cuts will be implemented by the end of 2017 as socially acceptable as possible. These job cuts form part of a wider restructuring programme which also affects about 1,300 jobs worldwide.
Eon made a loss of €16 billion in 2016. According to the company's management, this is due to changes in the energy market and the cost of nuclear waste with the company required to pay €10 billion to a state energy fond for the federal state to assume responsibility for nuclear waste produced. Furthermore, Eon is planning to sell further shares of its subsidiary Uniper in an attempt to reduce the company's dept.
Eon currently employs about 3,000 staff in Germany and about 43,000 people worldwide.
Sources
16 March 2017: Frankfurter Allgemeine Zeitung (print)
16 March 2017: Der Tagesspiegel
Citation
Eurofound (2017), Eon , Internal restructuring in Germany, factsheet number 90533, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90533.
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