British Gas to cut 5,000 jobs due to impact of coronavirus
British Gas owner Centrica has said it will cut 5,000 jobs due to the impact of the coronavirus pandemic.
The company said more than half of the job cuts will affect managers as part of a huge restructure and most will take place in the second half of 2020.
Centrica says it will strip out three layers of management to slimline the business and cut down on bureaucracy, but it is also starting consultations on plans to “simplify terms and conditions” for all its UK employees.
Chris O’Shea, Centrica’s recently-appointed chief executive, said: “I believe that our complex business model hinders the delivery of our strategy and inhibits the relentless focus I want to give to our customers.
“We have great people, strong brands that are trusted by millions and leading market positions, but 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.
“I truly regret that these difficult decisions will have to be made and understand the impact on the colleagues who will leave us.”
Centrica’s announcement adds to the mounting toll of corporate job cuts, including 9,000 redundancies at engineering firm Rolls-Royce, and the recent loss of 10,000 roles at BP.