Thames Water is to reduce staff numbers by 650 as it seeks to reduce costs. The UK’s largest water company, which has faced criticism for leaks, told 350 staff they would be made redundant with a further 300 positions to be removed by terminating contractor roles and not filling vacancies.
Most of the roles are in support functions based in London and the Thames Valley. The company said the service it provides to customers would not be affected and that it was “focused on maximising every penny we spend on priorities including reducing leakage and customer complaints”.
The announcement came on the same day that Utilities regulator Ofwat warned Thames Water that it has “substantial concerns” over the company's business plan for the next five years.
The UK's biggest water supplier and three other firms received letters from the watchdog calling for them to review their proposals which it said substantially overestimated the cost of maintenance.
Ofwat also raised concerns over the proposed business plans of fellow suppliers Anglian Water, Yorkshire Water and SES Water.
Thames Water said it would seek to minimise redundancies wherever possible, through redeployment and voluntary redundancy for affected groups and by agreement.
“This is clearly very difficult news for employees directly affected and we will do as much as we can to support them, including providing practical help to find new roles,” the company added.
