British Gas owner Centrica has confirmed it will slash up to 700 management and back office roles in the UK as part of a previously announced wave of job cuts. The latest losses will count towards the 4,000 job cuts figure announced in February 2018, which Centrica intends to complete by 2020. "The roles potentially affected are in management layers and back office functions," a spokesperson said. Centrica will now embark on a 45-day staff consultation process over the job losses. Centrica warned in May that it could cut its dividend after a challenging start to its latest financial year. The energy giant has shedded 234,000 customers in the UK in its opening quarter, while energy regulator Ofgem's energy price cap led to a £70m one-off hit to its bottom line.
(c) 2019 City A.M., source Newspaper