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British Gas Announces 500 Jobs To Be Cut

Britain's largest energy supplier British Gas is axing 500 jobs as part of an ongoing cost-cutting plan by owner Centrica (LSE: CNA.L - news) .

It (Other OTC: ITGL - news) comes after the company last summer announced an efficiency programme involving the loss of 6,000 jobs designed to make the company competitive "in a fast-changing energy market".

The jobs are going at the British Gas's loft and cavity wall insulation business.

Mark Hodges, chief executive of British Gas energy and supply services for UK and Ireland (Other OTC: IRLD - news) , said: "We are focused on improving the efficiency and effectiveness of our organisation to meet the changing needs of our customers.

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"British Gas is well positioned to grow, but we must ensure that our costs allow us to be competitive for our customers.

"I recognise that this will be difficult news for the employees who may be affected.

"However I believe today's announcement is in the best long-term interests of the business."

Brian Strutton, national officer of the GMB union, said: "This is an early stage of the programme of 6,000 job losses announced by parent group Centrica last summer.

"GMB expects a further 4,000 job losses still to come in areas that have yet to be identified.

"The closure of the loft and cavity wall business with a loss of 500 jobs is a real sickener.

"British Gas was playing a significant part in tackling cold homes and improving energy efficiency.

"Now (NYSE: DNOW - news) the Government will need to look at revising its carbon emission targets as a result of these and other job losses in the insulation sector."