Home » UK Employment news » Thames Water could axe as many as 300 jobs
https://www.whatjobs.com/news/united-kingdom/uk-employment-news/thames-water-could-axe-as-many-as-300-jobs
The UK’s largest water firm Thames Water is planning to cut around 300 jobs.
The GMB union has already confirmed 140 redundancies.
The reductions will primarily hit the retail and digital functions.
Read More: IG Group To Cut 300 Jobs In Streamlining Operation
Consultations are underway to eliminate 89 retail positions and 39 digital roles, including programming, cyber security, data, and insights.
The changes will not impact customer service, which the company says emphasises a commitment to maintaining service standards.
The past year presented severe financial challenges for Thames Water, which currently carries debts amounting to £14 billion.
In the summer, the company faced the risk of collapse due to difficulties meeting its repayments.
Read More: Recruitment Giant StepStone To Cut 215 Jobs
However, it secured support from investors such as Omers, the Canadian pension fund, and the Universities Superannuation Scheme (USS).
A company spokesperson said: "We are consulting on a proposal which could lead to the potential loss of around 300 roles."
They said the firm would minimise compulsory redundancies where possible through redeployment and voluntary redundancy.
"Frontline colleagues will not be impacted by these proposed changes, with roles at risk primarily in our retail and digital functions as well as some other areas.
Need Career Advice? Get employment skills advice at all levels of your career
"Change does mean difficult decisions and we are focused on supporting our colleagues throughout the process."
The GMB union said it’ll strive to minimise compulsory redundancies and ensure that affected workers receive the compensation they deserve.
Gary Carter, GMB national officer, said: "Thames Water has danced with the devil and now workers are paying the price.
“In the 40 years since privatisation, we've seen virtually no investment, systematic asset stripping and billions of public money drained from the system to fill already building shareholder and fat cat coffers.
"As a result, Thames is on its knees and water workers are losing their livelihoods."
Follow us on YouTube, Twitter, LinkedIn, and Facebook.
