Bovis Homes has become the latest housebuilder to swing an axe through staff numbers, following the downturn in the housing market.
It is understood that the £556m-turnover group is making about 140 of its 930-strong workforce redundant – 15% of its staff. This is similar to the percentage of jobs cut at Redrow and Bellway. It is not known if a particular area or division will be affected.
Bovis Homes is understood to have finalised details of the redundancies this week. It declined to comment on the situation, but a source close to the company said it was “reviewing its cost base in light of the downturn”.
Kier and North-west developer David McLean joined Bovis in making staff cuts this week.
David McLean confirmed 30 redundancies, which is a tenth of its workforce. A company statement said: “This situation is unavoidable in the present climate. We must take these steps to ensure we operate in the most efficient way possible to maintain our position of strength.”
Last week Kier said it would close two regional offices in Lincolnshire with the possible loss of 90 jobs. Earlier this month Redrow said it had made 200 redundancies and Bellway was understood to have cut 320 jobs. These followed cuts at Taylor Wimpey, Crest Nicholson, McCarthy & Stone and Countryside Properties.
Bovis Homes said results for the six months to 30 June would be “significantly lower” than expected, because of a 30% fall in reservations since January.
The Home Builders Federation said the drop across all companies was near 66% by the end of April.