Endesa to Cut Up to 1,200 Employees by 2024
December 22 2020 - 2:05AM
Dow Jones News
By Joshua Kirby
Endesa SA said Tuesday that it has reached an agreement with
labor unions on the voluntary suspension or termination of a
maximum of around 1,200 employees between 2021 and 2024.
The Spanish utility company said the layoffs are part of its
strategic plan, which includes process digitalization.
The execution of the collective agreement will entail a
nonrecurring impact on income of around 390 million euros ($477.5
million), with no effect on shareholder remuneration for the 2020
financial year, the company said.
Write to Joshua Kirby at joshua.kirby@dowjones.com;
@joshualeokirby
(END) Dow Jones Newswires
December 22, 2020 01:50 ET (06:50 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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