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.comAn enhanced voluntary exit program for non-managing-director staff was launched by Vistry Group to preserve cash and reduce debt comes after a pause in the share buyback as first-half profits are expected to be notably lower than a year ago with an operational review due by 24 September The firm says the scheme may be the right outcome for employees and the business as it continues forward its primary aim continues to preserve cash and reduce debt Shares have fallen as details emerge about the scheme while management reviews options and outlook The program could trim staff gradually and help maintain financial flexibility for the group