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11,000 jobs go at E.ON

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11,000 jobs go at E.ON

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German energy utility E.ON, the world’s largest by sales, is to cut close to 11,000 jobs, at the very top of the range announced in August.

The cuts represent nearly 14 percent of its workforce, and is a bid to slash costs prompted by the government’s decision to scrap nuclear power by 2022.

The company says the job cuts should strip controllable costs by nine and a half billion euros by 2015.