March 13, 2018 / 11:53 AM / a year ago

German union says Innogy deal must give workers job security

Innogy logo before the company's annual news conference in Essen, Germany March 12, 2018. REUTERS/Wolfgang Rattay

ESSEN, Germany (Reuters) - A carve-up of Innogy (IGY.DE) between parent RWE (RWEG.DE) and rival E.ON (EONGn.DE) must include provisions to give workers at the affected companies job and wage security, a member of labor union Verdi’s board said on Tuesday.

“The announced job cuts, which will see around 5,000 jobs go in the medium term, must be cushioned, with no compulsory redundancies,” Andreas Scheidt, who is also deputy chairman of E.ON’s supervisory board, told Reuters.

The asset swap, which will turn RWE into Europe’s third-largest renewable player and at the same time create one of the continent’s top grid and energy retail groups under the aegis of E.ON, was announced over the weekend. [nL8N1QU0KX]

Reporting by Tom Kaeckenhoff; Writing by Maria Sheahan; Editing by Douglas Busvine

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