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
5,000 jobs Number of planned job losses
Announcement Date
1 May 2018
Employment effect (start)
1 July 2018
Foreseen end date
30 June 2019
Description
The German energy provider Eon has announced it will cut approximately 5,000 jobs as part of its merger with RWE Innogy. According to Eon's CEO, cuts are inevitable due to a complete reorganisation of Eon’s business dealings. Eon will be focusing on the energy grid and end-user business. The job reduction will be done in a socially acceptable manner and in close cooperation with social partners. Innogy’s works council has already announced that one of the main demands will be the avoidance of operational terminations. An exact timetable has yet to be announced, however, Eon expects to reach an agreement regarding the job reduction by summer 2018 and to conclude the merger in mid-2019.
After the merger, Eon will have approximately 65,000 employees.
Sources
1 May 2018: Handelsblatt (online)
5 May 2018: Westfälische Rundschau (online)
Citation
Eurofound (2018), Eon, Merger/Acquisition in Germany, factsheet number 93981, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93981.
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