“Uniper employees forgo money”

Employees of German utility Uniper have agreed on an austerity deal and forgo fringe benefits of five percent of their standard wages in order to avoid enforced redundancies until 2022, Rheinische Post reports. The conventional energy subsidiary of German utility E.ON wants to lower its expenses by 400 million euros until next year to compensate losses incurred by a drop in wholesale energy prices, the article says. “This is yet another step to make the company competitive,” Uniper CEO Klaus Schäfer said. However, the deal between employee representatives and the company board only protects 3,000 of Uniper’s 5,000 jobs in the country.

Read the article in German here.

See the CLEW dossier Utilities and the energy transition for more information.