Redrow

Type
Closure
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
68 - Real estate activities
68 - Real estate activities with own property and development of building projects
68.1 - 68 - Real estate activities with own property and development of building projects
550 jobs
Number of planned job losses
Job loss
Announcement Date
9 July 2008
Employment effect (start)
Foreseen end date

Description

UK House-builder Redrow has announced 550 job cuts as part of broad cost cutting measures including the closure of two of its offices. The job cuts reflect an industry wide downturn in business blamed on the credit crunch and a drop in the number of affordable mortgages. The company announced that the drop in sales was 'unprecedented'. As of July 2008, there is no information on when the job cuts will be implemented by.

Sources

  • 9 July 2008: BBC Website

Citation

Eurofound (2008), Redrow, Closure in United Kingdom, factsheet number 66825, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66825.