Globally, there will be 4,500 new hires over the next few years, the company said.
The new jobs will be created as 6,000 workers in Italy take early retirement. With 9,200 staff around the world also retiring early, the plan will actually see a 14 percent reduction in the company’s global workforce by 2019 as it aims to make savings of €1.9 billion.
The company also announced that it would merge with its renewable energy unit, Enel Green Power (EGP), and delist the latter. EGP was publicly listed in 2010 and Enel will now buy back the 30 percent of the company it doesn’t already own.
CEO Francesco Starace said the move would allow the company to accelerate both EGP’s growth and that of other business lines.
As Enel hires, Italy’s second largest lender by market value – UniCredit – said last week that 18,200 jobs would go by 2018 as it seeks to save €1.6 billion.