03:42PM, Thursday 11 June 2020
Centrica – They’re cutting 4000 jobs. Centrica, Millstream, Maidenhead Road, Windsor SL4 5GD
Windsor-based energy firm Centrica has announced plans to cut thousands of jobs as it begins a ‘significant restructure’.
The company, which owns British Gas and has its main headquarters in Maidenhead Road, has lost more than half of its earnings in recent years.
It claims the restructure is ‘designed to create a simpler, leaner group focused on delivering for our customers’.
The new model is expected to lead to a reduction of about 5,000 roles across Centrica, with more than half of the departures expected to come from management layers.
The majority of the restructuring is to take place in the second half of 2020, following consultation with colleagues.
When asked by The Express what implications this would have on workers in Windsor, Centrica said it will not be giving a breakdown by offices at this stage.
“It is nationwide and subject to consultation,” the firm added.
As a result of the planned changes, Centrica will have fewer customer-facing business units, all of which will report directly to the CEO.
Three management layers will be removed to create a ‘flatter, less bureaucratic organisation’, resulting in about half of the existing 40-strong senior leadership team leaving the group by the end of August.
Centrica Group chief executive Chris O’Shea said: “Since becoming chief executive almost three months ago, I’ve focused on navigating the company through the COVID-19 crisis and identifying what needs to change.
“I believe that our complex business model hinders the delivery of our strategy and inhibits the relentless focus I want to give our customers.
“We have great people, strong brands that are trusted by millions, 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.
“However, the changes we are proposing to make are designed to arrest our decline, allow us to focus on our customers and create a sustainable company.”
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