Centrica, which owns British Gas, is cutting 5,000 jobs as it restructures. The company says in a statement Thursday that it needed to simplify and modernize the business. Group Chief Executive Chris O'Shea says the harsh reality is that the firm has ``lost half its earnings in recent years.'' He says that the changes ``are designed to arrest our decline, allow us to focus on our customers and create a sustainable company.'' Around half of the current 40-strong senior leadership team is expected to leave the group by the end of August.

Source: The Standard June 11, 2020 09:46 UTC