German energy giant E.ON has warned up to 5,000 jobs will be axed when it acquires the energy networks and customer-facing parts of Innogy, as part of a huge asset swap with RWE. Innogy management said publicly last week that it feared its 43,000 staff would be at a disadvantage to E.ON employees as roles are shed during the integration of the firms next year. Leaked emails from management to staff reveal how deeply worried the firms’s leadership is that Innogy staff will be the biggest losers from the deal. The UK competition watchdog last week launched a full-scale investigation into the merger, saying the move could push up energy prices. The company’s standard tariff was already the most expensive of the large suppliers, even before the increase.

Source: The Guardian May 14, 2018 14:12 UTC