SWINDON-based Npower has confirmed it will be cutting 2,400 jobs as it seeks to curb heavy losses.

The energy firm, which is based at the Windmill Hill Industrial Estate, has announced losses of more than £100 million last year, compared with a significant profit the year before.

During the year, the company, which is owned by German company RWE, also lost more 350,000 customers in 2015 which equates to six per cent of its base.

In total the company employs 11,500 both directly and indirectly, with many being based in the North and the Midlands but more than 1,000 work in Swindon.

At this stage, it is not clear where the job losses will fall but Npower will be streamlining all of its services and property portfolio.

Paul Coffey, CEO of Npower, said: “Npower results continue the trend seen earlier in 2015, but they are nonetheless extremely disappointing and we are starting a two year process to fix them. 

“They show a business that tried to do too much, too soon while not focusing enough on the fundamentals in a constantly changing market. 

“This led to over complicated processes and procedures resulting in unhappy customers, too many complaints and extra costs to put things right.

“This will be a huge task for all of us but we are determined to create the better business that our customers expect and shareholders demand. 

“I regret that, as we simplify and streamline our activities, this will mean inevitable job losses but I am convinced that these steps are critical to protect the thousands of jobs that will remain.”

The company has said it will consult with those employees impacted by the cuts as well as unions.

In an early morning announcement it also announced there would be issues with billing in 2016 as it simplified its systems.