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KB Home Consolidates Accounting Centers, 66 Workers Affected

By Dawn Wotapka Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- In a cost-cutting move, builder KB Home (KBH) said Thursday it is consolidating its two accounting and administrative services centers into one Phoenix office. The Los-Angeles based builder said it will move the Denver operation to Arizona during the next few months. The Phoenix office will manage accounting-related operations for its 30 markets nationwide. The builder, one of the nation's largest, did not say how much money will be saved. Some of the 66 affected Denver-based employees will be offered positions in Phoenix. The Denver home-building operation will not be affected. "The decision to consolidate our accounting centers allows us to better manage our costs and streamline our operations," said Jeff Kaminski, KB Home's chief financial officer. He added this is "one of the many steps we are taking in restoring KB Home to profitability." Home builders, battered by the housing downturn, have spent the last few years cutting costs, doing everything from simplifying housing plans to exiting underperforming markets. Shares of KB Home was up 2 cents to $11.13 in midday trading Thursday. -By Dawn Wotapka, Dow Jones Newswires; 212-416-2193; dawn.wotapka@dowjones.com

Stock News for Kb Home (KBH)
DateTimeHeadline
07/02/201516:53:06Quarterly Report (10-q)
06/30/201511:00:00KB Home Announces the Grand Opening of Stonecrest at The Cove...
06/26/201512:44:18Annual Report of Employee Stock Plans (11-k)
06/22/201511:00:00New KB Home Community in Choice San Diego Location Ready to Save...
06/19/201515:16:48KB Home Rises as New-Home Sales Drive Strong Earnings
06/19/201510:10:04KB Home Profit Tops Projections
06/19/201510:01:48Current Report Filing (8-k)
06/19/201508:30:00KB Home Reports 2015 Second Quarter Results
06/18/201511:00:00KB Home Introduces Palo Alto at Stonegate in Irvine
06/16/201508:00:00KB Home Names Andy Garrich as Senior Vice President of Land for...
06/10/201510:16:56Amended Statement of Ownership (sc 13g/a)
06/09/201511:00:00KB Home Announces the Grand Opening of Ridgeline in Lakeside
06/08/201512:27:00KB Home’s 2015 Second Quarter Earnings Conference Call to Be W...
06/04/201509:00:00KB Home Announces Grand Opening of Forest Grove in Round Rock
05/28/201511:00:00KB Home Announces the Grand Opening of Copper Crest in East Mesa
05/28/201508:00:00KB Home Announces the Grand Opening of Lake Hancock Preserve...
05/27/201510:00:00KB Home Acquires Property in Broomfield’s North Park Community
05/20/201511:00:00KB Home Announces the Grand Opening of La Ventilla in Goodyear
05/19/201511:00:00KB Home Announces the Grand Opening of Silvercreek at Audie Murphy...
05/18/201508:00:00EPA Honors KB Home with 2015 Indoor airPLUS Leader Award

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