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More jobs axed and rents fall in hedge-fund land

Guardian Unlimited – Wolseley, the world’s biggest trade distributor of plumbing and heating supplies, said it was cutting 2,000 jobs in the UK. The group, which earlier this year said it was cutting more than 5,000 jobs, mainly in the US, warned that the cost-cutting programme involved the closure of some 200 of its 1,700 British branches.

Overall, Wolseley employs about 14,000 people in Britain; its best-known retail brands include Build Center and Plumb Center.

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