German energy giant RWE says it will cut 6,750 more jobs by 2016 because of falling earnings from its coal- and gas-fired plants. Wind and solar power generation now account for 25 percent of Germany's energy mix. Because of energy market trends, RWE cannot extend an existing deal with trade unions to avoid layoffs beyond next year.
The reductions reduce RWE's workforce from 67,400 to 60,700, with two-thirds within Germany. Starting in 2011, RWE had already trimmed 6,200 jobs.
In September, RWE had announced a halving of its dividend and foreshadowed job cuts in power plants. “Despite a still difficult market environment," RWE operating profit for the first three quarters of 2013 was more or less stable at 4.6 billion euros, owing primarily to gas sales.
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