Feb 3 (Reuters) - Drax Group on Tuesday said it could cut more than 350 jobs in the UK and North America as part of the power firm's long-term strategy to bolster UK energy security and advance its
UK's power firm Drax Group says it could cut over 10% jobs
Drax Group's Job Reduction Strategy
Feb 3 (Reuters) - Drax Group on Tuesday said it could cut more than 350 jobs in the UK and North America as part of the power firm's long-term strategy to bolster UK energy security and advance its transition to lower-carbon generation.
Consultation Process in the UK
The company has begun a consultation process in the UK and will brief employees in North America on potential changes that could result in the job cuts, it said.
Impact on Employees in North America
The Selby, UK-headquartered Drax has 3,250 employees worldwide, according to its latest annual report.
Company's Recent Share Performance
The company's shares have risen about 46% in the past 12 months as of Monday's market close.
(Reporting by Ankita Bora in Bengaluru; Editing by Sahal Muhammed)
