The nation's 35th biggest builder on the Builder 100 list announced that it made major layoffs last Wednesday.

Although Indianapolis-based C.P. Morgan wouldn't reveal how many workers it laid off, what their positions were, or what markets the jobs were in, it did say market conditions forced it to downsize.

"C.P. Morgan has made a workforce reduction as a result of the slowing housing market," said Blair Kendall, C.P. Morgan's public relations manager, in a written statement.

C.P. Morgan is active in Indiana and North Carolina. For the company to stay competitive, Kendall said the job cuts were necessary.

"Our people have always been our most important and most valuable asset, and therefore any action we take that results in a reduction in our workforce is difficult for us," Kendall said. "However, as an industry leader, we must take decisive steps to ensure our continued strength and leadership in the housing market."