Vistry has cautioned that further redundancies are on the horizon as the housebuilder targets an extra £50 million in cost savings, following a half-year loss exceeding £660 million and a downgraded profit outlook for the full year.
To revive the struggling business, the group's new boss Adam Daniels outlined major restructuring plans. These include downsizing the company’s regional divisions from 25 to 12 and withdrawing entirely from private home sales across the South East.
