Type
Internal restructuring
Country
Germany
Region
Nordrhein-Westfalen; Köln; Köln
Location of affected unit(s)
Köln
Sector
Utilities
Electricity, Gas, Steam And Air Conditioning Supply
Electricity, Gas, Steam And Air Conditioning Supply
35.13 - Distribution of electricity

465 jobs
Number of planned job losses
Job loss
Announcement Date
2 July 2018
Employment effect (start)
2 July 2018
Foreseen end date
1 January 2025

Description

The German utility service provider in Cologne, Rheinenergie, announced it will cut 465 jobs due to internal restructuring until 2025. The company aims to reduce costs by a double-digit million amount. Rheinenergie will achieve this mainly via natural fluctuation, partial-retirement programmes and severance payments.

As of July 2018, Rheinenergie has 3,800 employees in Cologne.


Sources

Citation

Eurofound (2018), Rheinenergie, Internal restructuring in Germany, factsheet number 94673, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94673.