B&Q has announced forty job losses at the company’s headquarters in Chandler’s Ford.

The axe will fall on human resources, finance and property team jobs as the DIY chain becomes the latest credit crunch victim.

A B&Q spokesman said: “Despite prudent management of our workforce and a recruitment freeze since April 2008, B&Q is now facing making some redundancies across its head office support functions.

“This is as a result of the unprecedented economic environment and not a decision which is taken lightly by B&Q.

“We have now entered into a period of consultation with 40 staff in the HR, finance and property teams.

“We will be working individually with them to find the best possible outcome for each member of staff.”

Despite the job cutbacks B&Q is pressing ahead with plans to create a flagship HQ in the town.

More than four years ago the company announced it would bring together 1,500 staff under one roof from several sites scattered around the Southampton and Eastleigh areas.

The multi-million pound development, which has been given the go ahead by Eastleigh Council, involves bulldozing the former Alldays convenience store and distribution base.

Last year Eastleigh planners gave the green light for phase one and two of the new B&Q headquarters which includes a merchandising laboratory, training centre, meeting room suites, fitness centre, creche and kitchens, plus parking for 918 cars.

The company plans to bring all its headquarter and research operations under one roof by 2011.

Redundancies at B&Q are the latest jobs blow to hit the Eastleigh area.Workers at the Home Delivery Network depot at Boyatt Wood are still waiting to hear their fate.

It followed last month’s bombshell news that Britain’s biggest home delivery distributor was axing hundreds of posts across the country.

The company is planning to slash nearly 700 jobs across its business seeking to cut costs and make efficiency savings.

Eastleigh is one of the seven depots where the axe could fall on jobs.

The Daily Echo this week exclusively revealed up to 500 jobs are to go at the Ford Swaythling Transit Plant and those remaining will be hit with a pay freeze.