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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
01/12/201717:14:17Amended Statement of Ownership (sc 13g/a)
01/12/201709:35:00Hot Stocks to Watch in the U.S. and Canada
01/11/201717:35:00KB Home Sales Climb, Though Profit Is Pressured
01/11/201716:16:13Current Report Filing (8-k)
01/11/201716:05:00KB Home Reports 2016 Fourth Quarter and Full Year Results
01/05/201708:00:00KB Home Announces the Grand Opening of Centerpointe in Downey
12/16/201614:31:23Amended Statement of Ownership (sc 13g/a)
12/15/201616:59:49Current Report Filing (8-k)
12/15/201606:30:00KB Home Announces $100 Million Optional Redemption of 9.100...
12/09/201608:00:00KB Home Announces the Grand Opening of Shadow Glen in Marana
12/08/201608:00:00KB Home Names Chris Apostolopoulos as Regional President of Its...
12/07/201608:00:00KB Home Announces the Grand Opening of Lancaster Square in Cypress
12/05/201616:05:00KB Home to Release 2016 Fourth Quarter and Year End Earnings...
12/01/201608:00:00KB Home Announces the Grand Opening of Santa Rita Ranch in Vail...
11/18/201612:00:00KB Home Debuts First Apple HomeKit-Enabled New Home Community
11/16/201608:00:00KB Home Announces the Grand Opening of Vineyard Square in Windermere
11/10/201610:00:00KB Home Promotes Randy Carpenter to President of Its Colorado...
11/07/201617:32:03Current Report Filing (8-k)
11/03/201611:00:00KB Home Names Brian Kunec as President of Its Las Vegas Division
11/02/201611:00:00KB Home Appoints Rob McGibney to Regional General Manager of...

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