UK's power firm Drax Group says it could cut over 10% jobs (updated)
03/02/2026 15:55
Adds details from paragraph 2 onwards Feb 3 (Reuters) - Drax Group DRX.L 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. 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. The Selby, UK-headquartered Drax has 3,250 employees worldwide, according to its latest annual report. 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) ((Ankita.Bora@thomsonreuters.com))