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Thursday, April 22, 1999 Published at 11:26 GMT 12:26 UK
Business: The Company File
Electricity jobs cut
East Midlands Electricity: Bought by Powergen last summer
East Midlands Electricity is cutting 700 jobs, from a workforce of nearly 5,000.
The company's new owners PowerGen say the cuts will be in the electricity distribution arm of the business, and are designed to eliminate duplication and make the company more flexible .
It plans to implement the redundancies over the next two years on a voluntary basis.
East Midlands Electricity was taken over by PowerGen last July. It bought the company for £1.9bn.
East Midlands, which supplies electricity to more than two million homes and businesses, has its headquarters in Nottingham.
Restructuring
The jobs cuts are owing to a restructuring of the company's distribution business announced by new owners PowerGen.
East Midlands Electricity currently has six regional business centres based in Coventry, Derby, Leicester, Lincoln, Northampton and Nottingham.
Under the new plan, management and administration at the centres will be moved to a purpose-built site at the Pegasus Business Park, near junction 24, of the M1, halfway between Loughborough and Nottingham.
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The Company File Contents
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Relevant Stories 12 Nov 98 | The Company File Regional electricity sparks profits 29 Jun 98 | The Company File PowerGen buys East Midlands |
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