Austria: Verbund to Take Austerity Measures

Austria: Verbund to Take Austerity Measures / Picture: © Verbund AG

Power plants have to be written off, profits decreased, investments are cut and there will be no new employees taken on in the near future. The energy company has to cut spendings and is lowering prices for electricy at the same time. Verbund lost almost a quarter of its value at the stock exchange since the beginning of the year. Yet, Anzengruber is determined to keep to its…