Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
E.On UK, the UK subsidiary of the German energy company has announced that it will cut 500 jobs across its UK sites before the government introduces a cap on standard energy tariffs this winter, reducing the company’s profits.
The CEO of E.On said that the job reduction is “one element of our ongoing transformation which, in total, will help us achieve savings of around £100 million (€112 million) across our mid-term plan". He added that the redundancies will affect non-customer facing roles and will be voluntary, “wherever possible."
The acting national officer for energy and utilities said: “Unite is working constructively with the E.ON management on its plans for a number of redundancies which, we understand, will be on a voluntary basis. These redundancies are related to reorganisation within the company."
E.On UK is the UK’s third largest energy provider, supplying gas and electricity to 4 million homes, of which 42% are on a standard variable tariff which will be affected by the energy price cap.
Eurofound (2018), E.On UK, Internal restructuring in United Kingdom, factsheet number 94746, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/94746.
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