Eon to axe 500 jobs


Eon plans to cut 500 jobs, around 5% of its UK workforce.

The company said the redundancies would be made in non-customer facing roles.

CEO Michael Lewis said the cuts were due to an increasingly competitive environment. He singled out the forthcoming price cap on tariffs as a contributory factor.

Eon is trying to cut out about £100m of cost from its operations over the mid-term.

It has previously flagged the negative impact of energy market intervention and Brexit on its UK earnings.

Lewis said redundancies would be “voluntary wherever possible”.

See the announcement here.

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