200 jobs lost in Anglian revamp
UTILITY company Anglian Water, owned by AWG, is to axe 200 jobs across the business.
The cuts will form part of a restructuring the company is putting in place before its next five-year review period begins next April.
An Anglian Water spokesman said: 'The redundancies will be voluntary where possible, and no decision has been taken yet on where in the business the jobs will go. We have begun a consultation process with trade unions.'
Anglian Water employs 3,500 staff and has about 6m commercial, industrial and domestic customers in a geographical-spread covering 20% of England and Wales.
Regulator Ofwat recently revised draft plans submitted by the industry, and will allow 13% price rises over the next five years.
It is thought Anglia had expected to be allowed a greater price increase and has now had to reduce its revenue forecasts by about £400m.
AWG said in a recent trading statement: 'The Draft Determination includes a range of very demanding assumptions. Taken as a package, they represent a severe challenge and the company has made appropriate representations to Ofwat.'
