April 21, 2016 / 9:17 PM / 2 years ago

Enel's Latin American arm cuts jobs in tough market

SANTIAGO, April 21 (Reuters) - Enersis Americas SA, Italian utility Enel’s Latin American arm, said it was laying off workers as part of an efficiency drive against the backdrop of a difficult energy market.

Indebted Enel has been shifting its attention to its more profitable Latin American assets in recent years, packing the local firms with its own executives and carrying out a restructuring, a process that is ongoing and been plagued with local disputes.

“In the current energy market context, and in line with the plan presented to the market, it has been necessary to begin a rigorous process of looking for efficiencies, which includes, among other things, personnel reduction,” Enersis said in a statement on Thursday.

The company did not give exact numbers, but a source with knowledge of the process said about 160 people, all based in Chile, would lose their jobs. (Reporting by Felipe Iturrieta; Writing by Rosalba O’Brien; Editing by Jonathan Oatis)

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