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Centrica bosses trouser £30 million as share price plummets

27 Jul 2020
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Centrica directors have trousered more than £30 million while they presided over the company's plummeting share price, GMB analysis reveals. 

Since 2015 shares have plunged from 271p to just over 47p at the close of business on July 24. Yet over same time period, the top directors have pocketed an astonishing £31 million. 

Meanwhile the company has announced three rounds of massive job cuts. 

The latest, in mid-July the company announced 5,000 more redundancies, while staff have been told they must accept new conditions including longer hours, no overtime pay and reduced benefits, or risk being sacked. 

Centrica’s financial results this week showed profits have dropped 14% while the company has shed 226,000 customers in the UK. [1] 

Justin Bowden, GMB National Secretary, said:  

“Centrica’s top brass has been paid a fortune while presiding over the terrible decline of a once proud company. 

“They have been handsomely rewarded for failure while loyal engineers, call centre workers and admin staff were expected to pay for it with pension cuts and redundancies.. 

“It proves the only thing they can look after is themselves.” 

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