Ovo Energy, the UK’s third-largest household supplier, has informed staff of its decision to cut its workforce by a quarter.Sky News reported on Wednesday evening that 1,700 roles were to be axed in a bid to save money as the industry battles crippling rises in the cost of raw energy, especially gas, that have led 25 firms to collapse since August last year.
A source had told City editor Mark Kleinman that the cuts would come from voluntary redundancies under proposals to consolidate its offices to three sites in London, Bristol and Glasgow in the wake of Ovo’s 2019 acquisition of SSE’s household energy business.Its plans were also unde …
