British Nuclear Fuels looks set to lose more than 1,000 employees over the next three years as it strives to reduce its costs by 25%.
John Taylor, chief executive, announced the cost-reduction target following a conference of 180 of the company’s senior managers and said detailed plans to achieve it would be in place by the autumn.
A company spokesman said reductions in manning levels were certain to play a significant role but would not account for all the savings. `I don’t think we’re looking at a 25% cut in the workforce.’ He added there would be no compulsory redundancies.
Without the reduction in its cost base, BNFL will not make a profit from the £1.5bn contract announced on 4 June with British Energy to reprocess all remaining spent fuel arising from Nuclear Electric’s advanced gas-cooled reactors.