Irish building supplies group Grafton to cut a further 1,000 jobs

Irish building supplies group Grafton is to axe up to 1,000 jobs this year due to the housebuilding downturn in the UK and Ireland.

Grafton, which owns the Buildbase merchants chain in the UK, said in a statement it expected profits to remain under pressure during the second half of the year.

The group has already reduced its headcount by 600 this year. The further cuts represent 8% of Grafton's workforce, reports Ireland's Sunday Business Post.