by Sally Nash • NFC is slashing up to 600
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jobs as part of a wideranging shake-up costing £49m which will hit the company's truck rental and contract hire activities.
The group, which has already closed its next-day pallet network, plans to reduce the number of sites involved in truck rental and contract hire by about 20% nationwide.
The majority of job cuts will take place in the UK, says chief executive Dr Gerry Murphy, but NFC will try to reallocate staff where possible, he adds.
NFC is now looking for expansion in sectors such as automotive and electronics, and in specific areas including North America and Asia-Pacific.
Announcing a 17% rise in pretax profit to £53.3m for the half-year to March, Murphy said the group had also pulled out of three "uneconomic" deals with Whitbread, Homebase and Boots: "There may be other contracts that will be returned to customers," he added," but I don't expect this to be a huge trend."
O NFC says the national truck drivers' strikes in France and Spain cost the group about £1m in the half-year.