Wolseley set to cut 1,300 US jobs

Wolseley has suffered in the wake of the US housing slowdown

Building and plumbing firm Wolseley plans to cut around 1,300 more jobs in North America after being hit by the slowing US housing market.

The move comes after the firm reduced headcount by 1,700 in the three months to the end of October.

Low consumer confidence and the weak dollar were making trading tough in the US, it said. The firm says the combined cuts will help save the firm £60m.

Reading-based Wolseley saw its overall quarterly profits fall 15%.

Meanwhile the firm, which has the brands Plumb Center and Build Center, saw European profit rise 15% during the three months to the end of October.

"The group continues to take swift and decisive action in the more challenging business conditions" said Chip Hornsby, group chief executive of Wolseley.