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U.K. Energy Supplier Ovo to Cut 1,700 Jobs as Crisis Bites

  • Company earlier advised customers to eat ginger to stay warm
  • Surging gas and power prices sent 24 suppliers out of business

Ovo Energy Ltd., the U.K. energy supplier that sparked outrage by suggesting customers keep warm this winter by eating ginger and cuddling pets, is set to announce that it will lose about a quarter of its workforce as it tries to cut costs amid one the biggest crises to hit the market in history.

Ovo could lose about 1,700 out of its 6,200 roles, according to a person familiar with the situation. Sky News first reported the cutbacks.