British residential property developer Bellway has announced a limited number of job cuts across the country as part of organisational changes.
The company also said that these changes may entail the closure of its London partnerships and South Midlands divisions. It will also lower production in its Durham business.
Sky News quoted the company as saying: “In response to current market conditions which have caused a slowdown in the sales market and a reduced output for house building, we have today announced proposals to make some structural changes across our business.
“This includes the potential closure of two of our operating divisions, with sites being transferred to other divisions, a reduction in capacity in a third division and a limited number of role reductions across the business.
“A process of consulting with those potentially impacted has begun today.”
Although the company did not specify the number of job cuts, the decision could end up affecting 90 employees, which represents 3% of the company’s 3,000 workforce.
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The group’s order book declined to 4,411 homes, with overall reservations, including social homes, falling by 28.4% to 156 per week in the year to 31 July 2023.
Bellway completed 10,945 homes when compared with 11,198 in 2022.