UK energy supplier trying to control costs by cutting 1,700 jobs as gas market price soars to all-time high
Ovo Energy is moving to cut a quarter of its entire workforce in an attempt to cut costs amid the growing industry crisis.
The UK’s third-biggest supplier of gas and electricity is expected to announce the loss of 1,700 roles out of 6,200 as part of a voluntary redundancy scheme as soon as Thursday. Gas market prices last month reached an all-time high of £4.50 per therm, about nine times higher than this time last year.
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