A year after B&Q opened their new 300,000 square feet head office in Chandler’s Ford they have announced they will be sacking 220 staff.
Today’s announcement follows the news that profits at the DIY retailer had fallen by £30 million after another typical British summer had caused sales of hosepipes to plummet by 25 % and heaps of barbecue sets to go unsold.
B&Q had said it was going to undergo a ‘realignment’ of its head office staff but a decision on job losses had not been expected till March. The company currently employs 1,500 staff at its Chestnut Avenue offices making it one of the Borough’s largest employers.
Eastleigh has a B&Q ‘Depot’ at Hedge End and a another branch on Woodside Avenue the site of which Eastleigh Borough Council bought for £8.5 million in 2010 and lease out to the company.
The company also sponsers the annual Eastleigh 10k Road Race
Over capacity in the UK DIY market saw the Collapse of the Focus chain recently – many of their stores were bought by B&Q.
An analyst for investment bank said Seymour Pierce.
“The company has too much space, which will require major restructuring, particularly in the UK.”
B&Q Boss Ian Cheshire, who earned £2.3 million last year before share bonuses, said.
“We are looking very carefully at every foot of space and could sublet or exit some”
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