Vattenfall has decided to embark on a SKr2bn ($251m) cost-cutting programme by 2020 that “very likely” will include a reduction in its workforce, in order to stay competitive while the Swedish utility transforms itself into a fossil-free energy company.
“Vattenfall has a clear strategic direction and a path for transformation in which we include needed cost reductions to free up capital for future investments,” chief executive Magnus Hall says.
