2,500 jobs to go at Travis Perkins
Travis Perkins, UK's biggest builder's merchant, has announced that it plans to lose 9% or around 2,500 jobs.
The company has said that the current pandemic is likely to lead to a UK recession and that this will hit demand for building materials for both this year and the next.
The group, which include Wickes, Toolstation and Tile Giant, has said that the job cuts will come from the closure of around 165 branches - mostly smaller branches, and that consultation with employees has begun.
The government has put in place various measures to try to limit the long-term damage, including a furlough scheme for workers.
Travis Perkins has been using that furlough scheme, but nevertheless said that the coronavirus crisis had "created significant challenges across our group".
Chief executive Nick Roberts said: "While we have experienced improving trends more recently, we do not expect a return to pre-Covid trading conditions for some time and consequently we have had to take the very difficult decision to begin consultations on the closure of selected branches."