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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; [email protected]

Stock News for Kb Home (KBH)
DateTimeHeadline
03/24/201716:30:00KB Home Announces the Grand Opening of Its Second Community at...
03/24/201706:02:21Additional Proxy Soliciting Materials (definitive) (defa14a)
03/23/201716:20:08Current Report Filing (8-k)
03/23/201716:05:00KB Home Reports 2017 First Quarter Results
03/22/201708:00:00KB Home Announces the Grand Opening of Mason Hills–The Lakes i...
03/09/201716:05:00KB Home to Release 2017 First Quarter Earnings on March 23, 2017
03/03/201717:08:03Additional Proxy Soliciting Materials (definitive) (defa14a)
03/03/201717:03:43Proxy Statement (definitive) (def 14a)
03/03/201708:00:00KB Home Announces the Grand Opening of The Villas at Sonoran...
02/24/201708:00:00KB Home Announces the Grand Opening of Westview Landing in Houston
02/24/201708:00:00KB Home Announces the Grand Opening of The Villas at The Meadows...
02/23/201708:00:00KB Home Announces the Grand Opening of Lotus in Santa Ana
02/23/201708:00:00KB Home Announces the Grand Opening of River Village in Santee
02/22/201708:00:00KB Home’s Communities at Communications Hill Continue to Attract S...
02/21/201708:00:00KB Home Announces the Grand Opening of Copperleaf in Mandarin
02/17/201716:45:30Statement of Changes in Beneficial Ownership (4)
02/17/201716:45:29Statement of Changes in Beneficial Ownership (4)
02/17/201716:44:32Statement of Changes in Beneficial Ownership (4)
02/17/201716:44:32Statement of Changes in Beneficial Ownership (4)
02/17/201716:44:06Statement of Changes in Beneficial Ownership (4)

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