BG Group, a leading Oil and gas firm, has indicated that it is planning to cut up to 1, 100 jobs in the UK under its voluntary redundancy programme aimed at reducing costs and reviving business.

BG Group, which is a part of FTSE 100, is aiming to cut jobs in order to streamline its business. The voluntary redundancy package is being offered to all of the employer's staff based at its UK headquarters in Reading. Under the plans, the company could cut 70 per cent of the company's workforce in the UK.

A spokesman for BG Group said, "The programme reflects steps we are taking to simplify our business, particularly at Reading head office, and a focus on streamlining and managing costs across the company. We hope to conclude the process as soon as we can. But as this is an on-going process and a matter of confidentiality for both company and employees, we will not be commenting further."

The company currently employs 1,500 people in the UK. Its profits are affected due to political uncertainty in Egypt and it said that its costs will rise due to new investments in Australia and Brazil.