Germany´s second largest utility RWE has announced it will cut more jobs and reduce its capital spending in response to plunging wholesale power prices, a switch to renewable energy and weak demand in Europe.<br /><br />It plans to cut 6,750 jobs between next year and 2016. <br /><br />That means it will have laid off one in five of its workers since 2011. <br /><br />The company also said it cannot rule out further job cuts after that and gave profit guidance for this year that was significantly lower than last year.<br /><br />It is the latest in the European energy industry to warn of a deep crisis that will limit growth in the foreseeable future.
