The world’s largest utility by sales announced the jobs cuts in response to its first-ever quarterly loss, which it blames on the German government’s decision to phase out nuclear energy.
Chief executive Johannes Teyssen says it may be necessary to shrink E.ON’s head count by 9,000-11,000 people – equivalent to 14% of its workforce – in order to preserve the financial firepower it needs to press forward with the new strategy the company spelled out late last year.
That
