KB Home, Inc., Los Angeles (NYSE:KBH), on Thursday announced the consolidation of its two accounting and administrative services centers into one centralized office. The services currently performed by its regional accounting center based in Denver, Colorado will be transitioned over to its Phoenix, Arizona center during the next three to four months, the company said.
The Arizona center will manage accounting related matters for the KB's homebuilding operations in 30 major markets across the country. The company plans to offer positions at the Phoenix center to some of the 66 Denver-based employees affected by the closure.
"The decision to consolidate our accounting centers allows us to better manage our costs and streamline our operations without sacrificing quality or customer service," said Jeff Kaminski, executive vice president and chief financial officer of KB Home. "Our current business needs and technological capabilities will allow us to realize scalable efficiencies in our accounting support functions, one of the many steps we are taking in restoring KB Home to profitability."
"The consolidation will not impact our separate Denver homebuilding operation, division employees or current and future customers," said Kaminski. "We remain committed to the Denver market where we have nine new home communities open for sale, three additional communities opening by the end of the year and have recently acquired interests in new parcels of land to support further growth of the division."