EDP wants to cut up to 7% of its workforce in Portugal
After losing 3.8% of its workforce in the domestic market in 2024, the company has invited more than 100 workers to leave through agreed terminations and around 300 through early retirements.
EDP, the largest group in the Portuguese stock exchange, has been under fire for its loss of capitalisation in recent months. Internally, workers’ trust in management has deteriorated substantially in the last year, with the most recent internal survey showing that 57% trust the company’s management, compared to 69% in 2023.
According to the newspaper Expresso, the electricity company ended 2024 with 12,596 workers, down 3.4% on the previous year. In Portugal, the percentage of redundancies was even higher, at 3.8%, down to 5,466 employees. And the reduction isn’t expected to stop there, as more than a hundred workers have been asked to leave due to amicable terminations and around 300 due to early retirements, a total equivalent to around 7% of its workforce in the domestic market.
Hugo Soares, an EDP employee and leader of Sindel – Sindicato Nacional da Indústria e da Energia, told Expresso that most of the invitations were unsuccessful, with workers not accepting the terms proposed by the company. But “this year the movement of resignations was more visible” than in previous years, attesting to the fact that it covered various areas and departments, from the grassroots to the top offices.
