Barratt Developments

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
1,200 jobs
Number of planned job losses
Job loss
Announcement Date
10 July 2008
Employment effect (start)
Foreseen end date

Description

UK House-builder Barratt Developments has announced that it is to cut 1,200 within the UK. Two divisions will be closed and other parts of its business will be merged, other measures to manage its current financial challenges include reaching a deal to extend its debt facility by 2 years. The job cuts reflect an industry wide downturn in business blamed on the credit crunch and a drop in the number of affordable mortgages. As of 2008, there is no information on when the job losses will be implemented.

Sources

  • 10 July 2008: BBC Website

Citation

Eurofound (2008), Barratt Developments, Closure in United Kingdom, factsheet number 66826, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66826.