COVENTRY-based energy supplier Eon is set to cut hundreds of jobs from its workforce, blaming losses and the government’s price cap.
The company, which has its headquarters at Westwood Heath, intends to cut up to 600 staff from its UK operations.
An ‘extremely competitive’ energy market, along with the government’s energy price cap, were blamed for the proposals by the German company.
The cuts are expected to fall mainly in managerial roles.
It is not yet known how the proposals would affect Coventry but it is understood the axe would fall across UK locations.
In a statement, Eon said: “Suppliers in the UK energy market are facing a significant threat to their futures in a market that continues to be extremely competitive but that is also massively distorted by the energy price cap and the many firms now seemingly content to run at a significant loss.
“Only companies that continue to evolve and adapt to the nature and challenges of the market will be able to succeed.”
“We will consult fully with trade unions on these proposals and, as always, involve our colleagues fully with the detail of any proposed changes to how we operate and keep them informed of any developments.”
A company spokesperson added that job cuts would be nationwide, and the Coventry office is not its largest site.
This year Eon took over Innogy, the owner of UK supplier Npower, from German rival RWE, in a £34.5bn asset swap.
