Centrica, the owner of British Gas, has today announced that it is to cut up to 5,000 jobs by the end of 2020 in order to save the company from a further decline due to the impact of COVID-19.
Centrica has blamed the virus, the energy price cap and falling gas prices – all leading to today’s job cut announcement.
The energy giant’s CEO Chris O’Shea said the cuts would come across all levels of the business. About half of the jobs to go will be among the company’s leadership, management and corporate staff. This includes half of the senior leadership team of 40 who will leave by the end of next month.
O’Shea said: “Since becoming chief executive almost three months ago, I’ve focused on navigating the company through the Covid-19 crisis and identifying what needs to change in Centrica. We’ve learnt through the crisis that we can be agile and responsive in the most difficult conditions and put our customers at the heart of our decision making.
“I truly regret that these difficult decisions will have to be made and understand the impact on the colleagues who will leave us. However, the changes we are proposing to make are designed to arrest our decline, allow us to focus on our customers and create a sustainable company.”