British Gas owner to cut 4,000 jobs as profits slide 17%

The firm that owns British Gas, Centrica, is culling 4,000 jobs as part of a cost-cutting plan.

The energy supplier, which also has operations in North America and Ireland, has struggled to keep customers, with the firm’s British Gas business losing nine per cent of its UK domestic customers in 2017.

Group profits dropped 17% to £1.25billion.

Chief Executive, Iain Conn said the firm had a ‘weak’ second half of 2017, due to political and regulatory intervention in the UK – BBC reports.