Germany’s E.ON slashes debt after 16 billion euro record loss
Reuters
E.ON will shed assets and cut jobs to reduce its debt pile after impairments on its former power plant unit Uniper triggered a 16 billion euro net loss - more than its current market value, reports Christoph Steitz for Reuters. Cost savings will result in 1,300 job cuts, amounting to about 3 percent of the company’s total workforce, according to E.ON.
Read the article in English here.
For background on E.ON, read the CLEW factsheet E.ON shareholders ratify energy giant’s split.
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