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Vattenfall to save 2 billion SEK to «make room for investments»

Wednesday, 06 September 2017

In a press release today, Vattenfall announced their plans for a strategic transformation process to increase efficiency in staff and support services. The program sets a target of reducing costs by SEK 2 billion by 2020.

Magnus Hall, President and CEO of the Swedish state-owned company, highlighted the rapidly changing landscape and said the following:

“Vattenfall has a clear strategic direction and a path for transformation in which we include needed cost reductions to free up capital for future investments. With the transformation that has been taking place during the past years, Vattenfall has shrunk significantly. However, staff and support functions have not been reduced to the same extent. At the same time Vattenfall is operating in a rapidly changing energy landscape. Therefore, a cost saving need and...

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