Wolseley UK has announced 2,000 job losses and 200 branch closures in anticipation of “further market decline”.
In an interim management statement ahead of its AGM, Wolseley plc said “as expected, there has been a further deterioration in the trading environment particularly in the UK and Nordic regions”, resulting in “cost reduction measures to appropriately size the cost base”.
A total of 2,300 employees will be made redundant over the coming months, bringing the total headcount reduction at Wolseley to over 7,000 for the year. Most of the previous job losses have been in the company’s US business.
