Home Business News E.ON to cut up to 600 UK jobs over ‘extremely competitive’

E.ON to cut up to 600 UK jobs over ‘extremely competitive’

by LLB Reporter
16th Oct 19 11:06 am

E.ON the energy giant has announced they are to cut between 500 and 600 UK jobs citing an “extremely competitive” UK energy market and the impact of the energy price cap.

E.ON has a workforce of 9,000 in the UK and has informed staff of the cuts across the “support activities and managerial positions.”

The energy giants retail business fell from £271m profit in 2017 to a £39m profit last year.

An E.ON spokeswoman said, “Suppliers in the UK energy market are facing a significant threat to their futures in a market that continues to be extremely competitive but that is also massively distorted by the energy price cap and the many firms now seemingly content to run at a significant loss.

“Only companies that continue to evolve and adapt to the nature and challenges of the market will be able to succeed.

“As a result, we can confirm we have announced to colleagues a proposal to reduce between 500 and 600 roles across support activities and managerial positions in the UK.

“We will consult fully with trade unions on these proposals and, as always, involve our colleagues fully with the detail of any proposed changes to how we operate and keep them informed of any developments.”

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