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 as an operational review is due by 24 September The firm says the scheme may be the right outcome for employees and the business as it moves forward its primary aim continues to preserve cash and reduce debt Market context notes shares slide amid updates with management reviewing outlook and strategy The voluntary exit scheme could reduce headcount gradually and help maintain financial flexibility for the group