Manchester industrial products’ distributor to cut 170 jobs

An industrial maintenance, repair and overhaul products distributor based in Manchester is set to cut 170 jobs across the business as part of a £5m cost cutting drive following a "slower than anticipated start to the year". 170 jobs across the business as part of a £5m cost cutting drive following a "slower than anticipated start to the year", a news report has been able to reveal.

The redundancies will result in an exceptional charge of about £4m being taken in the first half of its financial year, but should save £5m of costs during the remainder of 2015.

Ahead of its annual general meeting today, Brammer said revenues in the first half should be higher than last year, but profits would be lower. In addition to market challenges, it blamed the continued strengthening of sterling against the euro and nordic currencies for the drop.

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