LONDON (ShareCast) - (Sharecast News) - Vistry has reportedly told hundreds of employees they may lose their jobs as the housebuilder cuts costs in the midst of a housing slump.
Bloomberg cited people with knowledge of the plans as saying that Vistry is weighing as many as 19 job cuts in each of its business units, with reductions expected to be in the region of 200.

It was understood the firm has begun redundancy consultations with affected employees in the roughly 5,000-strong workforce.

News of the potential job cuts comes after both Persimmon and Taylor Wimpey warned earlier this week of falling sales this year.

Bloomberg said no final decisions have been made on redundancies at Vistry and it remains unclear how many jobs will ultimately be cut.

Vistry announced in September 2022 that it had agreed to buy Countryside Partnerships for £1.25bn. Although Bloomberg put the 200 job cuts down to cost-cutting amid a slowdown in the housing market, Vistry did say at the time that the merger would involve a restructuring and that "the total number of roles" would be reduced by "approximately 4%".

Vistry declined to comment on the Bloomberg article.

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