Business Journal: Homebuilders Make Cutbacks
The slump in new home sales has led to continuing cutbacks at some of the region’s big homebuilders.
Wednesday, June 20, 2007
It’s the same story across the industry. Pulte Homes laid off 45 workers at its Sacramento and Reno offices last week. Richmond American Homes has shrunk its staff of 90 at the peak of the housing boom to just 10 people today. And John Laing Homes dropped 20 people, about a quarter of their staff, several months ago. New home sales continue to be sluggish in the region, although there decent sales continue in retirement communities and with entry-level subdivisions. Still shedding employees, it’s clear that homebuilders don’t see an upturn in the near term.