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.comVistry Group opened an enhanced voluntary exit scheme for staff below managing director level as part of cash preservation and debt reduction comes after a pause in the share buyback and an expectation that first-half profits will be significantly lower than last year and an operational review is scheduled for 24 September The company says the scheme could be the right outcome for individuals and the business while it moves forward primary aim remains cash preservation and debt reduction Market updates show shares sliding as news emerges as management reviews options and outlook The program could trim staff gradually and help maintain financial flexibility for the group