RWE to Cut Renewable Energy Jobs

GALWAY, IRELAND--November 12, 2013 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) One of Europe's largest energy companies, RWE AG (OTC:RWEOY) (Essen, Germany), is expected to cut up to half of its renewable energy workforce when it announces its Q3 financial results later this week.

Reports confirmed that around half of the 1,500 people employed by its renewable energy business, RWE Innogy, will be cut and redeployed, in an effort to reduce costs and improve profitability.