Vistry begins job cuts to reduce debt
British homebuilder Vistry has started cutting jobs as part of a restructuring plan to reduce debt and restore profitability. The company faces persistent weak demand and affordability pressures in the housing market.
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VISTRY GROUP PLC has started cutting jobs as part of a restructuring to reduce debt and return to profitability, the United Kingdom's largest affordable homebuilder said on Thursday morning. The homebuilder is shrinking its regional footprint as rising mortgage and interest rates deter buyers. Vistry's new operational structure will take effect from January 2027 as it refinances a £900 million ($1.21 billion) credit facility.
