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Uniper to cut 400 jobs over ‘challenging' market environment

Uniper to cut 400 jobs over ‘challenging' market environment

FRANKFURT: German state-owned utility Uniper on Thursday said it was planning to cut 400 jobs, or around 5% of its staff, citing a challenging energy market environment that includes falling wholesale power prices.
Citing 'challenging market developments and regulatory delays', Uniper also said it would look for other ways to cut costs to safeguard its profitability.
Newspaper Rheinische Post earlier reported the job cuts.
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