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Wolseley axes 2,000 jobs due to slow housing market

January 22, 2007
British plumbing and heating supplier Wolseley Plc said today it will eliminate 2,000 jobs in the U.S. because the soft housing market has weakened profits.

Its Stock Building Supplies arm, which is based in Raleigh, N.C., in the U.S., is laying off 1,500 jobs at 22 locations in addition to 2,000 positions it already has eliminated, Bloomberg reported.

Wolseley’s Ferguson plumbing unit, headquartered in the U.S. in Newport News, Va., is laying off 500. Ferguson has locations in Indianapolis, Fort Wayne, Evansville, Hammond, Jeffersonville, Carmel and Noblesville.

Wolseley did not specify which locations would see job cuts.
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