Taylor Wimpey to close 13 UK offices
Permalink: Taylor Wimpey to close 13 UK offices
by Kay Mitchell
The housing slowdown has been having a devastating affect on housebuilders recently with the latest news being job losses for Taylor Wimpey.
The UK’s second-largest housebuilder is to close 13 of its 39 offices across the UK which is expected to result in 600 job losses. This represents over 10% of its 4,700 UK workforce.
The offices are expected to be closed by the end of September. Employees were informed of the job losses by email on Monday.
The office closures are spread across the UK, including London and the South East, however, the company is not expected to exit any of its geographic markets altogether.
Peter Redfern, Taylor Wimpeyâ€™s chief executive, said our experience in the US and historically in the UK is that when housing markets slow, those that react most quickly and decisively become stronger businesses, and provide the most secure and positive environment for their continuing staff.
Taylor Wimpey has already made 40% of its US staff redundant since the start of the housing slump there.
The housebuilder has launched a 30-day consultation period with the staff affected by the job losses.
Last month Taylor Wimpey warned that the fall in property prices is turning into a disaster for housebuilders.
The group was formed by the merger of Taylor Woodrow and George Wimpey last July.
Last week, rival housebuilders Redrow and Galliford Try, warned of significant falls in sales over recent weeks.
Furthermore, there were warnings recently from other housebuilding giants including Bovis Homes and Persimmon.
Persimmon recently confirmed that it is to stop building on new sites until market conditions improve, which could result in tens of thousands of job losses.
Click here to discuss this: Home Move property forums
Related stories to: Taylor Wimpey to close 13 UK offices
Previous: « Albania’s EU ambitions alert long-term investors
Next: 10% fall in value of British Landâ€™s portfolio »
Visited 2436 times, 1 so far today