Type
Internal restructuring
Country
European Union
Region
Location of affected unit(s)
UK, Norway, Sweden, Finland
Sector
Construction
Construction Of Buildings And Infrastructure Engineering
Construction Of Buildings
41 - Construction of buildings

800 jobs
Number of planned job losses
Job loss
Announcement Date
27 September 2016
Employment effect (start)
27 September 2016
Foreseen end date
31 December 2019

Description

Building materials distribution company Wolseley is to cut 800 jobs in Britain – 13% of its UK workforce – and make reductions to its Nordic operations, of which the numbers are currently unspecified. This includes 80 branches and a distribution centre in Worcester, to save £25-30 million a year, although the restructuring will cost around £100 million. This has been catalysed by a drop in demand for building materials, which in the UK has been partially called by the reduction in subsidies for green energy, including efficient boilers and solar power. After the closures, Wolseley will have 440 branches, targeted at small traders, and 80 larger stores.


Sources

  • 27 September 2016: The Guardian
  • 27 September 2016: The Telegraph

Citation

Eurofound (2016), Wolseley, Internal restructuring in European Union, factsheet number 88723, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88723.