EnergyWatch

Media: Vattenfall might be set to fire 2,000 people

Cost reduction initiatives, like the one recently announced by Vattenfall, are "nothing out of the ordinary", due to the huge transitions in the energy industry, the CEO tells Swedish media SVT.

Photo: PR

Last week, Vattenfall launched a new strategy aimed at reducing the company's costs by SEK 2 billion (EUR 210 million) by 2020. This plan entails that 1,500 to 2,000 positions will disappear, reports Swedish media SVT Nyheter. The cost reduction measures are allegedly already decided upon, according to the media's sources, and will mainly affect HQ in Solna, near Stockholm, Sweden.

This would mean that between 5 and 6.5 percent of the energy company's approximately 31,000 employees will lose their jobs.

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