The UK’s largest building materials group has announced plans to cut 2,500 jobs as the coronavirus crisis takes its toll on demand.
Travis Perkins, which has more than 20 businesses including the Wickes DIY chain, said it expected the looming COVID-19 recession to dent its business not only this year but also next.
The company said it planned 165 branch closures – about 8% of its total network – concentrated in its Travis Perkins General Merchant division.
It said stores most likely to be affected were small branches where it was either difficult to implement safe social distancing practices or where profit margins were already thin.
The company said that in addition to the store closures, it had also started a consultation process on roles within its distribution, administrative and sales functions.
It announced the losses while revealing a 40%