Endesa reaches an agreement with the unions to lay off 10% of its workforce: 1,200 employees

The agreement will have a cost of 390 million and will affect mainly the areas of distribution, commercial and corporate

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Endesa has reached with all its union forces (UGT, SIE and CCOO) an agreement for voluntary departure for up to a maximum of 1,200 employees during the next four years, framed within the process of energy transition and digitization set by energy in its new strategic plan.

This agreement implies the accounting record of a provision with a non-recurring impact on the consolidated result estimated at about 390 million euros, which will have no effect on the remuneration of the shareholder corresponding to the financial year 2020, the company indicated in a statement to the National Securities Market Commission (CNMV). Specifically, this collective agreement on voluntary suspension or termination of the employment relationship will last during the 2021-2024 period, affecting a maximum of 1,200 workers and its application will in any case be voluntary for them.

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The departure plan is mainly directed to the areas of Distribution, Commercial and Corporate staff. In the case of Distribution, it will represent around two-thirds of the figure, about 800 employees, while about 250 will be from the Commercial area and another 150 from the Corporate area. At the end of last September, Endesa’s workforce amounted to almost 9,700 employees, so this plan will affect around 12% of the total.

TO INCORPORATE SOME 500 EMPLOYEES IN THE PERIOD.

In parallel, the energy company directed by Josà © Bogas plans to incorporate in the same period a total of 500 new workers for that year, which will partly rejuvenate its staff and renew the profiles it currently has for these functions.

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At the end of last July, Endesa already signed a commitment with the unions for the voluntary departure of a maximum of 577 employees, in this case from its thermal power plants, affected by the change in the energy model, which it is geared towards decarbonization. This commitment implied the accounting record of a provision with a non-recurring impact on the consolidated result estimated at 213 million euros, without effects on the shareholder’s remuneration for this year.

The reorganization of the activities derived from the energy transition process was carried out through a process negotiated and agreed upon with the union representation, which by means of training measures allows the internal relocation of a part of the affected personnel.

PLAN A 2030

Endesa foresees investments of 25,000 million between 2021 and 2030 to take advantage of the opportunities derived from both the National Integrated Energy and Climate Plan (PNIEC), the Government’s ‘roadmap’ to address the energy transition in the next decade. each, as well as the funds for post-Covid recovery that will arrive from the European Union, according to the group’s vision for 2030.

Of this energy investment effort, 40% -about 10,000 million euros- will be destined to increase the renewable generator park, with the goal of reaching more than 18,000 megawatts (MW), with the addition of more than 10,000 additional MW to the group’s operations by the end of 2020. Meanwhile, another 40% will go to the distribution network, This will raise the regulated network asset base from € 11.6 billion to € 13 billion at the end of the period.

Within its strategic plan for the 2021-2023 period, Endesa will increase the volume of its investments by 25% for the next three years, in relation to the 2020-2022 strategic plan, to reach 7.9 billion euros . Of this figure, 3.3 billion will be allocated to increasing the renewable energy generating park, a figure that is 20% higher than in the previous plan.

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