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Npower to cut around 900 jobs due to an ‘extremely tough’ market

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The German owned energy giant, npower is looking to cut up to 900 jobs in a bid to cut their operating costs, as the UK retail energy market is “extremely tough.”

The energy company said although they employ 6,300 staff through the UK, redundancies will be low due to the turnover of staff.

Paul Coffey, chief executive of npower said, “Ofgem itself forecasts that five of the ‘Big Six’ energy companies will make a loss or less than normal profits this year due to the implementation of the price cap, and with several recent failures of new energy suppliers, it is clear that many have been pricing at levels that are not sustainable.

“Even with these reductions, we still forecast significant losses this year, but we’re doing everything we can to minimise them whilst continuing to focus on service and value for our customers.”




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