British Gas owner cuts jobs amid profits

Centrica, the owner of British Gas, plans to lay off around 1,300 employees as part of a restructuring and transformation plan aimed at reducing costs and boosting efficiency. This comes amidst an 18% decline in profits in the first half of 2026, driven by asset sales, a weak market, and unfavorable weather conditions. The move coincides with the company's continued investments in nuclear energy projects and low-emission energy infrastructure, despite a 39% drop in its annual profits reported last February. The company aims to achieve cost savings of £500 million by 2030.

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