StockMarketWire.com - Energy company Centrica said it would cut around 5000 jobs across its businesses in an effort to simplify the business and save costs.

Sarwjit Sambhi, chief executive of Centrica consumer and Richard Hookway, chief executive, Centrica business would leave the company by the end of July.

The revised operating model was 'expected to accelerate the delivery of targeted cost savings and lead to a reduction of around 5,000 roles across the group, with over half of the departures expected to come from management layers.

The majority of the restructuring was expected to take place in the second half of 2020.




At 10:00am: [LON:CNA] Centrica PLC share price was -1.92p at 39.91p



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