22nd March 2016 | Commercial Energy
It was announced that Npower is to cut 2,400 jobs in the UK by 2018. Npower currently employs 11,500 of which 6,668 are full-time posts. Job losses would be from directly employed staff and contractors.
Npower is owned by Germany’s RWE, and lost 351,000 customer accounts in 2015, and made annual losses of €137m (£106m) compared to a profit of €227m (£176) in 2014. The company was also fined a record £26m by Ofgem, the industry’s regulator, for its failure to bill customers correctly and deal with complaints effectively.
The job cuts are likely to be from offices in the Midlands and North of England, but not from Npower’s power stations. In February, Npower announced the closure of its Burton-on-Trent office, resulting in 200 job losses.
Npower has slipped from second largest energy supplier in the UK to sixth (of the Big Six suppliers). The independents are far more agile, offering offer better service and price and do not have legacy systems and approaches to hinder their progress.
More information available at http://www.bbc.co.uk/news/business-35751807