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 occurs after the share buyback was paused 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 continues forward primary aim remains cash preservation and debt reduction Shares have fallen as details emerge about the scheme as management reviews options and outlook The program could trim staff gradually to preserve financial flexibility for Vistry Group