RS Components, the tool and electrical components catalogue business, is proposing to cut full and part-time posts.
RS Components, based in Corby and a subsidiary of Electrocomponents, will release 90 temporary agency staff and make 340 permanent roles redundant.

However, the store will create 190 new positions and says it will be 'redeploying those at risk wherever possible'.

These proposals result in a net reduction of 150 roles in the UK and are subject to consultation.

Electrocomponents' chief executive, Ian Mason, said: "I greatly regret the impact these proposals will have on our employees and the communities in which we operate. We are making every effort to ensure that we provide support for those affected by these proposals.

"These hard decisions are taken in light of the severe economic downturn and its effect on our business. Difficult though they are, I believe that the actions we are taking will make our business stronger in the future."