Type
Closure
Country
France
Region
Location of affected unit(s)
Lille and Strasbourg
Sector
Real Estate
Real Estate Activities
Real Estate Activities
68 - Real estate activities

166 jobs
Number of planned job losses
Job loss
Announcement Date
8 October 2008
Employment effect (start)
3 November 2008
Foreseen end date
31 December 2010

Description

Kaufman & Broad, the French property developer, has announced that it plans to cut 166 jobs from its workforce of 759 between November 2008 and December 2010. The group has announced the closure of 2 sites in France: Lille and Strasbourg because there is a crisis in their sector.

On 8 October, the works council of Kaufman & Broad is reported to have spoken in favour of a plan involving 166 job losses. Kaufman & Broad also said some of the restructuring measures will be put into place in November.

Kaufman & Broad SA is a French property developer and builder listed on the Euronext Paris Stock Exchange. It is principally engaged in providing single family homes and apartments. It also provides commercial property and generates revenue from operating showrooms. For the restructuring and renovation of commercial projects, Kaufman & Broad represents the owner as the general contractor. In the case of sales before completion contracts, the Company designs the projects with the assistance of outside architects, signs agreements to sell, and seeks tenants and investors. The Company has operations in Paris, Bayonne, Bordeaux, Grenoble, Lille, Lyon, Marseille, Montpellier, Nantes, Nice, Rouen, Strasbourg, Toulon and Toulouse. It is headquartered in Neuilly-sur-Seine, France.


Sources

  • 10 October 2008: L'Humanit√©
  • 9 October 2008: Les Echos
  • : (www.lefigaro.fr)

Citation

Eurofound (2008), Kaufman & Broad, Closure in France, factsheet number 67227, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67227.