2nd Feb 2016 14:21
LONDON (Alliance News) - Centrica PLC Tuesday said it will cut around 500 jobs from its British Gas unit as part of the group-wide efficiency review that was launched in the middle of 2015.
Centrica, as the parent company and owner of the UK utility firm, launched a group-wide efficiency programme back in July 2015 and on Tuesday said British Gas will cut those roles as part of the ongoing implementation of that strategy.
British Gas currently has around 30,000 employees, according to its website.
"We are focused on improving the efficiency and effectiveness of our organisation to meet the changing needs of our customers. British Gas is well positioned to grow, but we must ensure that our costs allow us to be competitive for our customers," said Mark Hodges, managing director of British Gas.
"I recognise that this will be difficult news for the employees who may be affected. However I believe today?s announcement is in the best long-term interests of the business. Our priority is to support all those potentially impacted, and to ensure a fair and transparent consultation process," he added.
British Gas is the largest UK energy and home services company providing gas and electricity, boilers and boiler cover as well as other home services to over 11.0 million households. Other brands alongside British Gas that are owned by Centrica include Bord Gais Energy, Centrica Storage, Direct Energy, DYNO and Hive.
Centrica shares were down 2.8% to 199.30 pence per share on Tuesday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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