Check the key events for this week...
Uniper will cut 2,000 jobs to reduce costs
German energy group Uniper is on the verge of cutting approximately 2,000 jobs or in other words 14% of the company’s workforce, by the end of 2018 as part of a cost-cutting program launched in 2016. That’s what its finance chief revealed to the Rheinische Post.
Last year Uniper told that it intended to save about 400 million euros by the end of 2018 by simply cutting jobs as well as spending as it ought to withstand a crisis at its generation business. However, the giant didn’t tell how many jobs should be cut.
The German company has already agreed with labor bosses on job cuts via partial retirement, natural attrition as well as severance packages, as finance chief Christopher Delbrueck disclosed in an interview to the Rheinische Post.
By the way, more than a third of the jobs being cut are those of employees who remained at E.ON in the spin-off, folks at shut-down power plants and also divested units.
As for the remaining 1,250 jobs, they will be strictly assessed by efficiency program Voyager, and most of them will be eliminated too.
The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
On Wednesday, China posted shockingly weaker surge in retail sales as well as industrial output for April, thus increasing pressure on the Chinese cabinet to roll out more stimulus because the trade conflict with America escalates…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.