Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Cambridge and Nationwide
Sector
Construction
Construction Of Buildings And Infrastructure Engineering
Construction Of Buildings
41.1 - Development of building projects

400 jobs
Number of planned job losses
Job loss
Announcement Date
9 July 2008
Employment effect (start)
Foreseen end date

Description

UK Home-builders Bovis Homes has announced that it plans to cut 400 jobs. The company announced that the job losses would be from both office and site based jobs. The job cuts reflect an industry wide downturn in business blamed on the credit crunch and a drop in the number of affordable mortgages. Sales at Bovis in the six months ending in June were down 30%. As of July 2008, there is no information on when the job losses will be implemented by.


Sources

  • 9 July 2008: BBC Website

Citation

Eurofound (2008), Bovis Homes, Internal restructuring in United Kingdom, factsheet number 66824, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66824.