Around 2,500 workers are set to lose their jobs at builders' merchant Travis Perkins. The company, which also owns Toolstation and Wickes, said the decision comes as it expects the recession to hit the trade for at least two years. "Reflecting the challenging outlook for our end-markets, the Group is taking regrettable but necessary actions to preserve the future competitiveness of the business," Travis Perkins said in a statement to investers.
Bosses plan to close 165 stores - mainly focusing on smaller Travis Perkins sites - also they said there were encouraging signs that building work is returning. "While there has been a significant recovery in trading volumes in recent weeks, it is evident that the UK is facing a recession and this