18/11/2008

Wolseley To Cut More Than 2,000 Jobs

Wolseley, distributor of plumbing and heating products to professional contractors and a leading supplier of building materials, has announced it is to cut more than 2,000 jobs and to shut down 200 of its branches in the UK and Ireland.

The Reading-based firm, which trades as Plumb Center and Build Center, blamed a further deterioration in the trading environment particularly in the UK.

Pre-tax profits for the year to 31 July fell to £145m compared to £634m last year. The group is expected to make the job cuts over the next few months.

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