Homebuilder axes 600 jobs

Around 600 jobs, including dozens in Wolverhampton, are being shed by a major homebuilder due to the slump in the housing market.

Bryant North Midlands is part of the country's second-biggest builder Taylor Wimpey, which is closing 13 of its 39 offices across the country.

Staff at the Wolverhampton base in Pendeford Business Park were told of the redundancies via email on Monday. The Wobaston Road office is expected to close by the end of September and a 30-day consultation period is now under way.

A source said today at least 60 people had lost their jobs. Those affected are believed to be sales and support staff.

Faeth Birch, spokeswoman for Taylor Wimpey, which was formed following the merger of Taylor Woodrow and George Wimpey, confirmed redundancies would start in July.

Taylor Wimpey chief executive Peter Redfern said today: "When housing markets slow, those that react the most quickly and decisively become stronger businesses and provide the most secure and positive environment for their continuing staff."

The 600 job losses equal 10 per cent of Taylor Wimpey's 4,700-strong UK workforce. George Wimpey and Bryant offices will also close in Scotland, the East Midlands, London, Peterborough and the South East.

The company, which reported a pre-tax loss of £19.5m in 2007 against profits of £405.6m a year earlier, has already made 40 per cent of its US staff redundant due to the slump.

In April house prices in the region fell for the eighth consecutive month. In Wolverhampton the average semi-detached home is now worth £132,000 following a drop in value of nine per cent from January to March.