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Germany's RWE to cut nearly a third of workforce in coal phase-out


FILE PHOTO: Rolf-Martin Schmitz, CEO of energy supplier RWE, attends a news conference about the restructuring of the German utility in Essen, Germany, September 30, 2019. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) - RWE, Germany’s biggest power producer, will cut about 6,000 jobs by 2030, or nearly a third of its current workforce, due to an agreed phase-out of brown coal as an energy source, it said on Thursday.

RWE will also receive 2.6 billion euros ($2.9 billion) in compensation over 15 years to soften the blow to its business, it added, saying this was below its own ...


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