E.ON works on cost-saving, management programme, Manager Magazin reports
E.ON works on cost-saving, management programme, Manager Magazin reports Oct 19 (Reuters) - E.ON EONGn.DE, Europe's largest operator of energy grids, is working on a cost-saving and management programme, Manager Magazin reported on Monday.
The project – known as 'Polaris' – is expected to lead to cost savings of between 20% and 25%, for example by eliminating overlapping roles, particularly at management level.
The programme is still under internal discussion and is not expected to launch before 2027, Manager Magazin said, citing people close to the group.
E.ON confirmed to the magazine that work is currently underway on a simpler "management model for the interaction between head office and operational units".
The group told the magazine no decisions had yet been taken, but initial talks with employee representatives were being held. It did not provide any details regarding the scale of the programme.
E.ON did not immediately respond to a Reuters request for comment.
(Reporting by Linda Pasquini
Editing by Ludwig Burger)
((linda.pasquini@thomsonreuters.com; +48 58 7785261;))
Recent news on E.ON SE
See all newsInsight: Europe weighs giving utilities, infrastructure companies more powers to bring down drones
E.ON works on cost-saving, management programme, Manager Magazin reports
Europe Research Roundup: Allianz, Mercedes-Benz, Tesco
Competition and Mkts - Merger Update: E.ON / OVO Energy
Brief: CMA Decided Not To Refer E.ON / OVO Energy Merger To Phase 2 Investigation