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E.ON sees job cuts, synergies in German utilities shake-up

Reuters  |  ESSEN, Germany 

By Christoph Steitz and Tom KäckenhoffESSEN, Germany (Reuters) - German energy firm E.ON said on Monday it expects as many as 5,000 job cuts and up to 800 million euros ($987 million) of synergies as part of an asset swap with peer RWE involving its renewables and network arm Innogy .Plans to break up Innogy and divide its assets between parent RWE and E.ON, first announced a day earlier, added 4.3 billion euros to the market value of Germany's three largest utilities in the sector's largest overhaul in recent history.Germany's power companies are reshaping as they look to boost green ...

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First Published: Tue, March 13 2018. 01:14 IST