Drax (DRX LN) is reportedly planning to cut 350 employees

Drax's decision to cut 350 employees signals a potential shift in its operational strategy, likely driven by cost-cutting measures or restructuring efforts.

Newsquawk StaffPublished 3 Feb 2026, 15:33 UTCOn the live feed at 15:13 UTC — 5 more headlines followed before this page went public

Newsquawk headlinesUTC

15:15

PREVIEW: Bank of England Announcement and MPR due Thursday 5th February at 12:00 GMT / 07:00 EST

15:15

Major home builders are working on plan to build 1mln Trump homes

15:13

Drax (DRX LN) is reportedly planning to cut 350 employees

15:12

US plans to issue license for companies to pump Venezuelan oil

15:02

Orion Critical Mineral Consortium proposes to acquire a 40% stake in Glencore's (GLEN LN) DRC assets

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Context

This could reflect broader challenges within the energy sector, impacting investor sentiment and potentially influencing stock performance in the FTSE 100 and European equities more generally.

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