Wolseley cuts 5,000 jobs, 2,300 more to go

British plumbing and heating supplies company Wolseley said today it had cut 5,000 staff in its first quarter and plans to shed…

British plumbing and heating supplies company Wolseley said today it had cut 5,000 staff in its first quarter and plans to shed another 2,300 jobs in the UK.

A spokeswoman for the company said the move would not impact on staff at its 100 stores based in Ireland.

Wolseley owns and operates heating the plumbing group Heat Merchants, bathroom supplier Tubs & Tiles and building materials group Brooks in the State and employs around 1,100 people in the Republic and Northern Ireland.

In a trading update for the quarter to end-October, the company reported first-quarter pretax profit before exceptional items had fallen 45 per cent, and said it would close over 200 branches.

CEO Chip Hornsby told reporters on a conference call that since August 1st 2007 the company had slashed headcount by 18 per cent, representing 15,000 staff.

He also predicted the company's US commercial business, currently a key revenue driver, would see further declines in 2009.

The company has already cut back its underperforming US Stock Building Supply arm, cutting 3,400 staff in the quarter.

Additional reporting agencies