It is a little late in the UK season now to be pruning a plum. It is best done in mid summer for established trees else there is a risk you could allow silver leaf disease spores into the cuts. I would leave it until next year or you risk losing the trees.
Unless it is a huge problem I would try to wait until summer comes around once again. Although it is not essential like dave said you could be risking silver leaf spores, take the risk by all means but if you can avoid it I would wait.
Id also been recomended to use a tree wax wound sealant although a bit of research on t'internet tells me the jury is still out on this method.
I used a wax sealant about 3 years ago on an apple tree, the first year there was a bumper crop of apples. The second year(a poor crop) I pruned the tree as it was out of control and then sealed the wounds. For year three and four the crops were also poor so I would be wary of using wound sealers again.
There's always a risk with sealers that you will seal infection (from the pruning) into the wound. If you prune during the winter months it will have healed over by the time the sap starts to flow.
Poor cropping is nothing to do with wound sealing really. If you prune a tree hard you just encourage growth at the expense of fruiting because it has more root than the size of tree now needs. If you MUST prune then either take it easy or else do some root pruning at the same time.
I'd leave the roots alone and do the top growth in stages, one third per year usually. Hard pruning puts up lots of water shoots that also need to be dealt with. Agree with leaving pruning to summer to avoid silver leaf and don't seal cuts (but use clean tools).
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