British Gas owner to cut 5,000 jobs in major restructuring plan – Sky News

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.

The group employs 26,000 people globally with nearly 80% of its workforce based in the UK.

The country’s largest household energy supplier has been bleeding household accounts in a market that has faced increased competition to the dominance of the “big six” firms.