Sandie Seward
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SIG Insulation Group cuts 900 jobs.SIG, the insulation group, will cut 900 jobs as the economic downturn continues to batter the construction sector.
It will axe 7 per cent of its workforce and shut 65 trading sites after giving warning that annual profits will be at the bottom end of market forecasts.
Its shares were down almost 12 per cent, or 21.5p, to 159.5p, in afternoon trading.
The announcement came a day after building supplies group Wolseley said that it was cutting 2,000 UK jobs.
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