npower owner looks to axe thousands of jobs

THE owner of Midlands-based power company npower is considering axing more than 6,700 jobs across Europe over the next two years as it looks to claw back profits.

The BBC said German group RWE had distributed a letter to shareholders saying it intended to cut 6,750 jobs across Europe between 2014 and 2016 and reduce costs by another €1bn (£840m) as it looked to deal with low wholesale prices for energy and an increase in renewable capacity.

The proposals mean the firm could shed around 18% of its workfo... For the full story register now for free or login below...