Persimmon

Type
Closure
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
68 - Real estate activities
68 - Real estate activities with own property and development of building projects
68.1 - 68 - Real estate activities with own property and development of building projects
2,000 jobs
Number of planned job losses
Job loss
Announcement Date
8 July 2008
Employment effect (start)
Foreseen end date

Description

UK House-builder Persimmon has announced that it is to cut 2000 within the UK. Two divisions will be closed and other parts of its business will be merged, other measures to manage its current financial challenges include reaching a deal to extend its debt facility by 2 years. The job cuts reflect an industry wide downturn in business blamed on the credit crunch and a drop in the number of affordable mortgages. As of July 2008, there is no information on when the job cuts will be implemented by.

Sources

  • 8 July 2008: BBC Website

Citation

Eurofound (2008), Persimmon, Closure in United Kingdom, factsheet number 66827, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66827.