Vistry launches voluntary exit scheme for staff
Swathe of job cuts loom as staff offered route out as debt reduction becomes top priority
www.constructionenquirer.comThe housebuilder introduced an enhanced voluntary exit scheme for staff below managing director level aimed at cash preservation and debt reduction comes after a pause in the share buyback and an expectation that first-half profits will be significantly lower than last year with an operational review due by 24 September Vistry states the plan could be the right outcome for staff and the company as it moves forward primary aim remains cash preservation and debt reduction Market updates show shares sliding as news emerges as management reviews options and outlook The scheme may lead to gradual headcount reduction to help maintain the group's financial flexibility