A 'STEEP and continuing downturn in the UK s housing market is being blamed for hundreds of potential job losses in St Neots and Cambourne. Kier Residential announced this week that it is to lay off 60 per cent of its staff, resulting in the closure of i
'A STEEP and continuing downturn' in the UK's housing market is being blamed for hundreds of potential job losses in St Neots and Cambourne.
Kier Residential announced this week that it is to lay off 60 per cent of its staff, resulting in the closure of its Twigden Homes office in The Shrubbery, St Neots, where 136 people work.
Offices in Borehamwood, Hertfordshire, and Glasgow in Scotland will also close.
Kier is believed to be planning to cut about 150 jobs, reducing staff to 250. Staff from all of its offices are expected to be included in this process, not just those from the closing branches.
A spokesman told The Hunts Post yesterday (Tuesday) that remaining staff from the three offices would relocate to the company's head office in Tempsford, Bedfordshire.
In a statement to The Hunts Post a company spokesman said: "Regrettably, all positions within Kier Residential are at risk of redundancy."
He said the job losses were due to the "continuing and rapid deterioration in the housing market with a collapse in the lending infrastructure".
He added: "Unfortunately, the steep and continuing downturn in the housing market has been such that Kier Group believes that this action is necessary in order to ensure a sustainable residential business for the future.
"It will, however, endeavour to seek alternative positions within Kier in the new residential structure or in other Kier companies where possible during the consultation process."
In addition to Kier's announcement, The Hunts Post has learnt this week that Bovis Homes is considering job cuts which could affect staff in the Cambourne office.
A spokesman for the company said: "In light of the current market conditions Bovis Homes can confirm it is currently undertaking a staff consultation regarding a number of options to review its ongoing cost structure. Once the consultation process is complete, which we anticipate being in the next two weeks, we will be in a position to confirm the number of jobs that will be affected."
The Bovis announcement follows news from one of the UK's leading housebuilders, Persimmon, who said it is to cut more than 1,000 UK jobs and Taylor Whimpey revealed it is to cut 900.