More than 70 UK jobs could go at Engie as the French energy group reorganises its headquarters.
Engie said in today’s first quarter results announcement that the move was intended to help the firm become “more agile and closer to customers”.
The headquarters of the group, which are currently split between three locations, would be located in Paris and Brussels and the London site would be closed.
Engie, formerly known as GDF Suez, said the move could lead to “net job cuts” of 504 positions, including 312 in France, 116 in Belgium and 76 in the UK.
In April, Engie said any “job adjustments” linked to the reorganisation of headquarters would be “solely voluntary”.
In February, Engie said its exploration and production (E&P) business’s offices in London would be closed and that the unit would be managed from Aberdeen.
Engie’s UK E&P activities include the operatorship of the Cygnus gas field, which started production in the southern North Sea in December.
Engie recorded revenues of £16.5billion in the first quarter of 2017, up 3.2% year-on-year, partly thanks to increased gas sales and the start-up of assets in Mexico and Peru.
Its core earnings dropped 5.9% to £2.8billion due to a decrease in hydro production in France and lower hydrocarbon output.
In March, Engie E&P sold its UK onshore petroleum exploration and development licence interests to Ineos.
Since then, Engie has agreed to sell its 40% stake in NuGen, the company behind the Moorside nuclear project in Cumbria, to Toshiba.
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