Profits soar but jobs to go at British Gas
British Gas have just revealed profits of a huge £656million which is an overall increase of some 44%, and whilst you would think that would be cause for celebration, staff are now beginning to get worried for Centrica the owner of British Gas have announced they are slashing 6000 jobs.
The massive job losses that have been announced are part of the new Chief Executive’s long term business plan, the man with that plan is Iain Conn who is hoping to keep the company in profit for years ahead.
It is in the residential sector of the business that the profits have increased most dramatically, and Conn expects there to be no direct effect of him shedding what will work out to be 10% of the workforce.
It is expected that just half of the job losses will be from redundancies and it is hoped those job losses will help save around £750million in the next five years. It is also hoped that some 2000 of the 6000 job losses could be recouped by taking on extra staff in other areas of the business however there is no guarantee that will happen.
Centrica as a whole has seen an overall drop in profits of around 3% to around the £1billion mark, so it would appear for anyone looking or some long or even short term Binary options trading opportunities British Gas and Centrica may be companions worth considering.
Iain Conn has stated on record that British Gas is hoping to cut its prices later on in 2015 and it is hoped that each residential customer will see an overall average saving of around £45 to £60 on their annual Gas bills.
There are of course lots of possible outcomes to the job losses announced but as the company as a whole is performing so well and with the job losses amounting to 10% of the workforce whether that will have any detrimental effects on the business does of course remain to be seen.
However, it is a fairly safe bet that with a man with the experience and skill that Iain Conn does of course have his long term strategy may just bear fruit and if so there is a lot to like about basing some of your Binary Options trades on both British Gas and Centrica, so keep that in mind when you are placing your commodity and service based trades in the coming future.
