Job Market Monitor

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

February 25, 2012 9:09 am

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…