ENERGY giant E-on, which has a base at the Sherwood Business Park in Annesley, has announced shock plans to cut the jobs of 500 staff nationwide.
The firm says the plans are at an early stage, with the number of posts under threat locally not yet known.
The company is targeting support staff and wants hundreds to take voluntary redundancy, although compulsory redundancies have not been ruled out.
There are understood to be more than 500 staff employed at the Annesley site, off Little Oak Drive.
Bosses have taken the decision to reduce jobs after the sale of its distribution arm, Central Networks.
Dr Paul Goldby, chief executive of E-ON UK, said: “We had to take a deep and rigorous review of how much money we spend in order to ensure we keep costs as low as possible for our customers. We need to become a more agile organisation and build a sustainable business in the UK.
“While I am very aware this will be a difficult time for our colleagues, it is our aim to keep uncertainty to a minimum and to achieve redundancies by voluntary means.”
The Derbyshire and Nottinghamshire Chamber of Commerce said the announcement would be tough for the local economy.
Chief executive George Cowcher said: “Obviously, the loss of jobs in Ashfield will have an impact on the local area, particularly at such a crucial time in the economic recovery.
“However the Chamber remains fully supportive of E-ON, which is an extremely well-run business.”