ESSEN, Germany (Reuters) - E.ON expects as many as 5,000 job cuts and 600 million to 800 million euros ($740-987 million) of synergies as part of a major asset swap with peer RWE involving its Innogy unit.
"Structural change is always associated with uncertainty for affected employees. E.ON and RWE are convinced that, by combining forces, each of the business areas that are touched by this transaction will have better prospects than before," E.ON and RWE said in a joint statement on Monday.
(Reporting by Christoph Steitz; Editing by Maria Sheahan)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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