British Gas owners Centrica to cut 4,000 jobs in the next two years to cut costs
The company blamed 'significantly reduced profit' after losing 750,000 customers
BRITISH Gas owners Centrica are due to cut 4,000 jobs over the next two years in a bid to slash costs.
The company blamed "significantly reduced profit" after losing 750,000 customers.
Its operating profits slumped 17 per cent to £1.25 billion and around 7.8 million UK domestic customers are left.
Centrica said the job losses, which are part of an extended cost-cutting programme, would fall mainly in its UK energy supply business.
Centrica's group chief executive Iain Conn said: "The combination of political and regulatory intervention in the UK energy market, concerns over the loss of energy customers in the UK and the performance issue in North America have created material uncertainty around Centrica and, although we delivered on our financial targets for the year, this resulted in a very poor shareholder experience.
"We regret this deeply and I am determined to restore shareholder value and confidence.
"We are committed to delivering attractive returns and growth over the medium term."
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