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Jobs at Severn Trent to go as focus turns back to water
Friday, 08 June 2007
Transport and utilities
Around 600 jobs at Severn Trent are to be cut as the utility firm continues its conversion from a conglomerate back into being far more focused on its primary water division.
News of the cuts in jobs at Severn Trent comes despite the company's announcement of a 9.5 per cent rise in pre-tax profits in the year running to March 31st, as the midlands-based utility firm continues its drive to streamline its operations and cut waste.
Severn Trent, which serves more than 3.7 million homes and businesses in the UK, was named earlier this year as the most wasteful water company outside of London, and has already been forced to award its customers some £3 million in compensation.
The latest job cuts come following substantial restructuring of the Severn Trent group, which has seen the company's Biffa waste division de-merged and its US-based laboratories and property company sold in a drive to streamline water-based operations.
Colin Matthews, group chief executive at Severn Trent Water commented: "With the restructuring of the group complete, management is committed to the single-minded pursuit of continuous improvement in Severn Trent Water."
Most of the jobs at Severn Trent are set to be cut at the company's Sheldon headquarters.