The business, which distributes heating and plumbing parts, is axing 73 jobs at its head office in Tachbrook Road and a further 11 at its site in Ripon.

Wolseley Plc, which is listed in the FTSE 100, currently employs 530 people at the Spa Park site.

The losses are related to current problems in the construction industry, which have been caused by a slow-down in the property market.

Managing director Rob Marchbank blamed the cuts on the current economic situation.

He said: "Given the deterioration in several of our markets, including the UK, we have continued to take action to reduce duplication and make cost savings across our operations."

Since July 99 jobs have been cut at Cubbington Dumper truck business Thwaites and losses are also expected at Rok in Warwick, formerly known as Sol Constructions.

Builders Barratt Developments and Taylor Wimpey also announced a total of 1,900 redundancies and construction company Galliford Try has lost 260 employees since July.

Share prices at Wolseley had risen back to 495p on Wednesday after reaching a 12-month low of under £3 in July.

Mr Marchbank believes the cuts will help repair the business.

And he added: "I am confident that today's changes, along with the recent establishment of our new divisional structure, will ensure we emerge from the current economic challenges equipped to successfully compete in our market places."

Earlier this year the company spent £3.2million on a 6,800 sq ft sustainable building in Harrison Way.

The building was put together using 170 sustainable products and has a centre where customers can learn how to make their homes more eco-friendly.