Uniper to Cut 400 Jobs Amid Strategic Refocus, LNG Expansion Plans

Uniper will cut 400 jobs as part of a cost-efficiency drive, while pressing ahead with LNG portfolio expansion and gas-fired power projects. The company reaffirmed its 2025 earnings forecast despite lower half-year results and delays in German energy auctions.

(P&GJ) — Uniper will reduce its workforce by 400 positions as part of cost-efficiency measures tied to its sharpened transformation strategy, the company announced on Aug. 7.

The cuts, announced alongside half-year results, will largely come from not filling current or future vacancies, with voluntary leave programs planned in consultation with employee representatives in Germany. Country-specific measures are also being developed for operations outside Germany.

The move follows delays in government auctions for new gas-fired power plants in Germany and slower-than-expected hydrogen market growth, which Uniper says will postpone potential revenue streams.

Despite lower first-half earnings — adjusted EBITDA of €379 million ($412 million) versus €1.74 billion ($1.90 billion) a year earlier — the company reaffirmed its 2025 forecast, narrowing the range to €1.0–€1.3 billion ($1.09–$1.42 billion) in adjusted EBITDA and €350–€550 million ($381–$599 million) in adjusted net income.

Uniper plans to expand its gas and LNG portfolio to 250–300 terawatt-hours annually through long-term contracts, building on recent deals with Canada’s Tourmaline Oil Corp. and Australia’s Woodside. LNG sales expansion in Asia is also planned.

The company will invest about €5 billion ($5.45 billion) through 2030 in its Green Generation and Flexible Generation segments, targeting 15–20 gigawatts of capacity with at least half from renewable, low-carbon, or decarbonizable sources.

S&P and Scope recently upgraded Uniper’s stand-alone credit profile, citing a stronger liquidity position and more predictable cash flows.