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
600 jobs Number of planned job losses
Announcement Date
20 March 2018
Employment effect (start)
20 March 2018
Foreseen end date
1 July 2020
Description
The Swedish state-owned energy company Vattenfall will be cutting 600 jobs in Germany by 2020. Last year, Vattenfall sold its German lignite assets (brown coal) and had already announced it would decrease the number of employees. The company plans to save €200 million in order to stay competitive and make room for more investment. Cuts will mainly take place in Berlin and Hamburg, but the exact distribution of job cuts has yet to be published.
The United Services Union Verd.i announced that it strongly opposes these plans.
All in all, Vattenfall will be cutting 1,500 jobs in Europe.
As of March 2018, Vattenfall has 20,000 employees worldwide.
Sources
20 March 2018: Hamburger Abendblatt (online)
20 March 2018: Merkur Online
Citation
Eurofound (2018), Vattenfall, Internal restructuring in Germany, factsheet number 93631, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93631.
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