Centrica expects to save more than £100m in 2021

The company said nearly 98% of its engineers have agreed to sign new contracts

The Big Zero report

British Gas owner Centrica has said it is expecting year-on-year operating cost savings of more than £100 million this year.

The company’s reconstructing process, part of which was the controversial ‘fire and rehire’ scheme, is predicted to save some cash.

The firm has confirmed nearly 98% of its engineers agreed to sign new employment contracts.

GMB said employees were asked to accept a 15% cut in pay rates and other changes in terms and conditions.

Chris O’ Shea, Group Chief Executive of Centrica, said: “As expected trading conditions have remained tough in the year to date. However, the modernisation of our Group remains on track and the difficult, but necessary process to move colleagues onto new terms and conditions is now complete.

“Although the external environment remains uncertain, our tight focus on cash and on fixing the basics across the Group leaves us well placed as we continue the turnaround of our company.”

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