The owner of British Gas has said it will cut 5,000 jobs as part of a major restructuring plan to turn around the company.
Centrica says half of its 40-strong senior leadership team will step down by the end of August – and it also plans to strip out three layers of management to slimline the business.
In total, about 50% of the jobs lost will be in its corporate, management or leadership teams.
Centrica has been in decline for several years, having lost half of its earnings in the last decade as smaller energy suppliers have taken customers from British Gas.
Via Reuters
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