The redundancies will ensure the national merchant is "leaner, simpler, more customer focused and more agile".
Travis Perkins has confirmed that a number of redundancies are to be made across the business - although the exact figure has not been revealed.
The national builders' merchant's half year results for the six months ended 30 June 2023 showed that revenue of £2,472 million was down 2.5%, while the adjusted operating profit of £112 million was down 31%, reflecting weak market volumes in private domestic RMI and new build housing.
This was in line with the company's forcast of a full year adjusted operating profit around £240 million.
According to the report, merchanting saw resilient demand across commercial, industrial, infrastructure and public sector markets.
However, performance was impacted by significant weakness in new build housing and private domestic RMI markets with revenue down 4.5% overall, and operating profit 23.5% lower due to high operational gearing.
A Travis Perkins statement said: “Challenging market conditions have continued for longer than anticipated and the uncertain economic outlook continues to impact across our industry. In the current trading environment, we are proposing some changes across our businesses that will ensure we are leaner, simpler, more customer focused and more agile.
"Unfortunately, these changes will mean that some colleagues will be leaving the business. Individual consultations remain ongoing and we are therefore unable to comment further.”
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