Essent-Nuon merger to cost jobs 01/02/2007 00:00
1 February 2007
AMSTERDAM - The merger between Essent and Nuon is expected to cost 1,350 jobs. The new company EssentNuon hopes it can avoid compulsory dismissals by not renewing temporary contracts.
Essent and Nuon are starting talks with the trade unions to draw up a good social plan. Both energy companies said this on Thursday at the announcement of the merger, which will be led by Essent CEO Michiel Boersma.
The Netherlands Competition Authority (Nma) and the provinces and municipalities, who are shareholders in the companies, still have to officially approve the merger of the two largest Dutch energy companies.
The companies hope this move will give them a stronger position on the European energy market, which has recently seen a wave of mergers.
[Copyright Expatica + ANP 2007]
Subject: Dutch news
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