Bloomberg: RWE AG Plans Workforce Reduction At Its Generation SE Unit
ESSEN (dpa-AFX) - According to Bloomberg report, RWE AG (RWEOY.PK), an electricity and gas company in Europe, is planning to cut 3,400 jobs at its Generation SE unit by 2018. About 2,300 positions are planned to be reduced in Germany.
On Sept. 19, RWE AG reported that, in light of the deterioration in the earnings prospects of the conventional electricity generation business, its Executive Board has decided to adjust the company's dividend policy.
RWE AG is expected to provide information on cost-cutting measures - including contributions made by employees and management - as well as on capex reductions on 14 November 2013.
Copyright RTT News/dpa-AFX