Eneco Scraps 250 Jobs on Its Way to Privatization
Eneco, a Dutch energy company set to be privatized, on Monday said it would cut at least 250 jobs this year in an effort to lower its costs by around 100 million euros by the end of 2019.
Eneco said more job losses were to be expected in the next 18 months, as the company readies itself for a sale.
Eneco's 53 municipal shareholders in October voted in principle to sell the company, which is valued at around 4 billion euros ($4.8 billion).
(Reporting by Bart Meijer; editing by Jason Neely)