World Economy

E.ON to Cut Jobs

E.ON to Cut JobsE.ON to Cut Jobs

German utility E.ON plans to cut administrative jobs as part of efforts to reduce costs by €400 million ($420.98 million), Chief Executive Johannes Teyssen told newspaper Rheinische Post, Foxnews reported. “Based on previous experience, 50% of savings in such efficiency programs come from personnel costs and 50% from the cost of material,” he said in the interview, published on Saturday, adding the company was in the process of determining how many jobs are to go. He said staff would be affected at the company’s headquarters in Essen, where around 600 people work in central administration.


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