Wolseley announces additional layoffs after Q1 profit drops

After Wolseley's profit declined 30% in its fiscal first quarter, which ended Oct. 31, the buildings materials distributor announced plans to lay off 2,300 employees in the U.K. and Scandinavia. The job cuts are in addition to the 5,000 layoffs already implemented in the first quarter. "In these unprecedented circumstances, the key priorities remain driving cost reduction and enhancing cash flow to ensure the group remains compliant with its banking covenants," Wolseley CEO Chip Hornsby said.

View Full Article in:

Industrial Distribution online · Modern Distribution Management · Bloomberg

Published in Brief:

SmartBrief Job Listings for Retail

Job Title Company Location
Digital Marketing Manager, Analytics and Intelligence
The Home Depot
atlanta, Georgia
Vice President Customer Care / Sales and Service Operations
HSN
Saint Petersburg, Florida
Director Lifecycle Marketing
HSN
Saint Petersburg, Florida
Branch Manager
Crescent Electric Supply Co.
Cedar Rapids, IA
Accounting Manager
Bed Bath & Beyond Inc
Union, New Jersey