B&Q to cut 400 head office jobs

DIY retailer B&Q is to cut almost a third of its head office workers, according to newspaper reports.

On Tuesday the firm will announce it is cutting 400 staff from its 1,400-strong workforce at its head office in Eastleigh, Hampshire, the Mail on Sunday reported.

The report comes just days ahead of an expected profit warning from its parent company Kingfisher that profits are set to be well below forecasts.

Back in May, Kingfisher unveiled a 15.6% drop in profits to £125.9m during the first three months of the year, adding that competition and a consumer slow-down had resulted in a 7.7% decline in like-for-like sales at B&Q.

The job cuts are expected to be announced as part of a massive restructuring drive at B&Q, following a review by the unit’s new chief executive Ian Cheshire.

Last week it emerged that HR director Mike Cutt is to leave the firm next month for health and beauty retailer Boots.

B&Q declined to comment on the report.

Comments are closed.