Uniper, Germany’s largest gas supplier, is planning significant workforce reductions, aiming to cut approximately 400 full-time positions by 2026 as an immediate cost-saving measure. The announcement, communicated by Uniper CEO Michael Lewis to employees, also indicates further potential job cuts through the company’s Orion program, which focuses on enhancing efficiency and optimizing the organizational structure.
Uniper currently employs 7,600 people globally, with 5,000 based in Germany. The company cited a challenging market environment as the primary driver for these measures. According to a statement released by the executive board, the current market conditions are more difficult than initially anticipated, particularly regarding lower-than-expected electricity prices in the Nordic market. This decline in revenue is projected to significantly impact profitability over the next three years, deviating from previous medium-term plans. Furthermore, Uniper has observed a consistent shrinking of its asset portfolio since 2022, a trend expected to continue until 2030. Regulatory delays are also contributing to the need for proactive measures to prevent sustained profit declines.
The company intends to address the workforce reduction through a combination of measures. Open positions will not be filled and Uniper plans to initiate discussions with employee representatives regarding a voluntary separation program. This initiative may include early retirement arrangements, severance packages and transitions to Uniper’s employment company, leveraging the existing “Social Security” collective bargaining agreement. The company emphasizes that these actions are being taken to ensure long-term financial stability.
