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Innogy plans no new job cuts at Npower, for now

Reuters - UK Focus

FRANKFURT, May 12 (Reuters) - German energy group Innogy currently has no plans for additional job cuts at its troubled British retail unit Npower, where it has cut about half of the 2,400 jobs it has pledged to shed as part of an ongoing turnaround programme, its CFO said.

Bernhard Guenther told analysts on Friday that the group was still looking for further cost cuts at the unit, which is being hit by growing competition and posted a 4.3 percent drop in the number of residential and commercial clients in the first quarter. (Reporting by Christoph Steitz; Editing by Maria Sheahan)