North Sea

Centrica’s job cuts total 3,000

Centrica

Centrica’s job cuts total 3,000 positions, the energy firm today confirmed.

The firm has clawed back £300million of its £700million total of planned savings so far, according to its pre-close trading update.

In the UKCS, the firm is currently trying to find jobs for people affected by its latest consultation phase. Read more here.

Adjusted operating cash flow is expected to be in the range £2.4-£2.6billion.

Iain Conn, Centrica group chief executive, said: “Our performance in the second half of the year has been strong and we expect to exceed our 2016 targets. We have made considerable progress in reshaping our portfolio and capabilities to deliver a robust platform for customer-focused growth. The Centrica team has performed very well in extremely difficult circumstances. Looking forward we are committed to delivering high levels of customer service, a wide choice of innovative offers and products and enhancing our digital capabilities, as we provide energy and services to satisfy the changing needs of our customers.”

The firm has interest in the Cygnus field, which achieved first gas earlier this week. Watch the video here.

Centrica is due to release its 2016 Preliminary Results on 23 February 2017.

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