LONDON: British Gas owner Centrica plans to cut around 5,000 jobs, almost 20% of its global workforce, it said on Thursday, as the energy utility deepens its restructuring efforts in the wake of the COVID-19 pandemic.
More than half of the job losses are expected to come from management teams and follow 4,000 cuts planned by this year which were announced in 2018.
“The harsh reality is that we have lost over half of our earnings in recent years. Now we must bring focus by modernising and simplifying the way we do business,” Group Chief Executive Chris O’Shea said in a statement.
Centrica on Thursday also announced Johnathan Ford as its new finance chief.
