British Gas to axe 850 jobs

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British Gas, the retail arm of utility group Centrica, announced on Wednesday plans to cut about 850 jobs, saying it needed to reduce costs to stay competitive.

"Household budgets are stretched, customers are looking for maximum value for money, and if we are going to remain competitive and offer the best prices for our customers, we need to reduce our costs," it said in a statement.

"We have therefore reviewed resource levels in our services business, and are now proposing a reduction of around 850 roles," it added.

The statement came shortly after official data showed Britain's jobless rate hit a 15-year high at 8.3 percent.

© 2011 AFP

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