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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
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)
02/17/201716:44:05Statement of Changes in Beneficial Ownership (4)
02/17/201708:00:00KB Home Announces the Grand Opening of Springtime at Harvest...
02/16/201708:00:00KB Home Announces the Grand Opening of Summit Crest in Fontana
02/15/201708:00:00KB Home Announces the Grand Opening of Jade Tree in Chino Hills
02/14/201711:33:45Amended Statement of Ownership (sc 13g/a)
02/14/201708:00:00KB Home Announces the Grand Opening of Serene Canyon in Las Vegas
02/14/201706:09:48Statement of Ownership (sc 13g)
02/10/201709:04:50Amended Statement of Ownership (sc 13g/a)
02/09/201716:28:11Statement of Ownership (sc 13g)
02/09/201708:00:00KB Home Announces the Grand Opening of Cherry Blossom at the...
02/08/201708:00:00KB Home Announces the Grand Opening of the Stapleton Villa Collection...
02/08/201708:00:00KB Home Announces the Grand Opening of Katy Manor in Katy, Texas
02/01/201708:00:00KB Home Announces the Grand Opening of Southshore at Bannon Lakes...
02/01/201708:00:00KB Home Announces the Grand Opening of Two Ocean View Neighborhoods...
01/31/201716:43:19Current Report Filing (8-k)

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