Further job losses feared at Wolseley


Further job losses feared at Wolseley
Building supplies group Wolseley is braced to announce further job losses among its UK workforce this week.

In May, Wolseley announced hundreds of posts were to be shed as it issued a gloomy trading update in light of challenging market conditions.

On Friday the group's shares fell by 3.57 per cent to 297p, marking a dismal year in which its share prices have fallen by three-quarters.

In the last month an indication of the plight of UK construction was provided by housebuilders Taylor Wimpey and Barratt, with both firms laying off thousands of workers.

Turmoil in the US housing market, where Wolseley has a strong presence, is exacerbating matters for the building and plumbing supplies firm.

The past few days has seen American mortgage specialist IndyMac Bancorp collapse, while shares in mortgage providers Freddie Mac and Fannie Mae plummeted when reports emerged the government was planning to take over the ailing companies.

According to the Sunday Telegraph, Wolseley will announce a new round of job losses in its 15,000-strong British workforce this week.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Del.icio.us Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure