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Energy giant Centrica announces job cuts

British Gas owner Centrica announced 1,310 job cuts today as a result of the company's poor performance through 2006.
The warmest winter on record coinciding with the increase in gas on to the market as infrastructure projects came on stream also affected the company's performance.The energy giant lost 6% of its customer accounts during the year and has said a price cut is set for the spring, triggered by a fall in wholesale prices.Centrica announced it will be 'streamlining' the business to reduce costs. British Gas Residential Energy back office will be streamlined 'with the loss of 700 roles'. 'This will include the closure of the headquarters building at Stockley Park, with staff being relocated to Staines. It also incorporates a restructuring of the British Gas Services team with the loss of 340 roles and a further streamlining of the group corporate structure, with the loss of 270 roles.'

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