Thames Water to axe up to 650 jobs as it looks to cut costs

Thames Water has announced plans to axe up to 650 jobs as it looks to cut costs.

The Reading-based water company said it was focused on "maximising every penny" it spends on priorities including reducing leakage and customer complaints.

"To achieve that, we must be as efficient and productive as possible across our business," it said.

"This includes having the right mix of people in the right jobs, in the right buildings and sites, focused on the right priorities."

As a result, the group is taking a range of measures to reduce costs and become more efficient, including reducing non-essential projects and programmes.

"Today we informed our employees of the potential loss of around 350 roles. We will seek to minimise redundancies wherever possible, through redeployment and voluntary redundancy for affected groups and by agreement," it said in a statement.

It also said that a further 300 jobs could be cut by not filling vacancies and through the termination of contractor roles. The jobs in question are primarily in support functions and management levels across London and the Thames Valley.

Thames Water said staff responsible for delivering services directly to its customers will largely be unaffected by the changes.

"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. We remain totally focused on managing our cost base. The money we spend belongs to our customers and investors - and we are committed to delivering on our commitments to them and all of our stakeholders."