Centrica, British Gas Parent, Cuts 2,300 Jobs – International Business Times

Centrica, parent company of British Gas, slashed 2,300 jobs to save £500 million ($784.9 million) on the heels of disappointing profits brought by a mild winter that cut household energy consumption.

The utility saw a 30 percent drop in annual operating profit at British Gas to $819.5 million, or $78.58 per household, after winter arrived with much less of a fury compared with 2010-11. It led to 1,900 job cuts at Centrica’s gas and power supply unit. Another 400 jobs were eliminated at the company’s North American division, and the remainder came from corporate operations…

via Centrica, British Gas Parent, Cuts 2,300 Jobs – International Business Times.