-
ALSO READ
Eon Electric reports standalone net loss of Rs 6.35 crore in the March 2019 quarter
Eon Electric reports consolidated net loss of Rs 8.39 crore in the June 2019 quarter
Eon Electric reports standalone net loss of Rs 16.32 crore in the September 2019 quarter
Panchshil Realty's EON Free Zone-1 Awarded Prestigious Health and Safety Management Award
Energy 'transition' the buzzword, but a fossil future for the Gulf
-
German energy giant EON on Friday said it planned to restructure its UK division Npower, sparking concern among British unions that up to 4,500 jobs could be cut.
"The UK market is currently particularly challenging," EON chief executive Johannes Teyssen said in a statement.
"We've emphasised repeatedly that we'll take all necessary action to return our business there to consistent profitability.
"For this purpose, we've put together proposals and already begun discussing them with British unions," Teyssen added.
EON said its planned restructuring over two years would cost the company 500 million pounds (USD 645 million, 586 million euros).
Unions said call-centre jobs were particularly at risk.
Dave Prentis, head of British union Unison, described the announcement as "cruel", adding that as many as 4,500 jobs could be axed.
"This is a cruel blow for Npower employees. They've been worried about their jobs for months. Now their worst fears have been realised, less than a month before Christmas," he added in a statement.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
RECOMMENDED FOR YOU