Last year, Astoria Homes in Las Vegas closed only 60 percent of the 1,012 units it closed in 2005. Yet, Astoria had zero layoffs among its 155 associates, and recently it's been beefing up such departments as marketing and design in preparation for starting as many as four new communities in 2007. More
Beazer Homes USA's announcement that it had laid off 1,000 people—25 percent of its workforce—was unusual among the big publics only in that it gave actual numbers. More quietly and perhaps with less drama, many other builders have been doing the same, resizing their workforces to match the lower sales experienced by most over the past six months. More
MORTGAGE BANKERS HAVE BEGUN to hit the point in the housing cycle that they didn't welcome, yet knew was coming: layoffs. Mortgage rates have finally headed north, leading to a drop of about 10 percent in mortgage purchase originations since April 2005—refinancings are down even more steeply—and, in many cases, lenders' earnings have fallen accordingly. More
WHILE MANY BUILDERS SEE RISK IN terms of land position, inefficient supply chains, or too shallow talent pools, they may overlook a loophole in their employment policies that could cost big bucks. San Diego attorney Janice Brown, who specializes in employment law and business, gives tips on how to minimize that risk. More
When a partner leaves, the most contentious issue may be the potential loss of clients and employees. More
