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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
07/23/201511:00:00KB Home Celebrates Grand Opening of Vineyard Crossing in Livermore
07/22/201508:00:00KB Home Announces the Grand Opening of Arbor Chase in East Orlando
07/21/201517:18:26Current Report Filing (8-k)
07/21/201511:00:00KB Home Announces the Grand Opening of Olive Lane in Fresno
07/20/201509:00:00KB Home Announces the Grand Opening of Buttercup Villas in Cedar...
07/17/201518:54:29Statement of Changes in Beneficial Ownership (4)
07/17/201518:42:17Initial Statement of Beneficial Ownership (3)
07/16/201518:44:00Robert “Bobby” Patton, Jr. Joins KB Home Board of Directors
07/16/201515:36:00KB Home Declares Third Quarter 2015 Dividend
07/15/201508:00:00KB Home Announces the Grand Opening of Its New Eastchurch Community...
07/14/201509:00:00KB Home Announces the Grand Opening of Mirabel Along the IH-10...
07/08/201509:00:00KB Home Announces the Grand Opening of Miller Ranch in Converse
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

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