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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
02/05/201608:00:00KB Home Announces the Grand Opening of Coves of Estero Bay in...
02/02/201616:17:00KB Home Names Jill Peters Senior Vice President of Investor Relations
01/27/201616:55:47Current Report Filing (8-k)
01/21/201615:00:00KB Home Declares First Quarter 2016 Dividend
01/21/201609:00:00KB Home Announces the Grand Opening of Hollister Commons in Houston
01/20/201611:00:00KB Home Announces the Grand Opening of Symmetry at the Lodge...
01/18/201620:06:00Oil Slump Hits Houston Home Market
01/14/201609:00:00KB Home Announces the Grand Opening of The Ridge at Bandera in...
01/13/201616:33:25Current Report Filing (8-k)
01/13/201611:00:00KB Home Introduces Arroyo Vista at the Woodlands in Simi Valley
01/08/201617:13:16Amended Statement of Ownership (sc 13g/a)
01/07/201609:24:48Current Report Filing (8-k)
01/07/201608:00:00KB Home Profit Falls Short
01/07/201606:30:00KB Home Reports 2015 Fourth Quarter and Full Year Results
12/10/201511:00:00KB Home Announces the Grand Opening of Artero in Livermore
12/09/201511:00:00KB Home Announces the Grand Opening of Magnolia Trails in El...
11/30/201511:49:00KB Home’s 2015 Fourth Quarter and Year End Earnings Conference C...
11/24/201510:00:00KB Home Announces the Grand Opening of Paseo Place in Chandler
11/19/201511:00:00KB Home Introduces Stonelake Community in Henderson
11/18/201508:00:00KB Home to Include Carrier Côr™ Smart Thermostats in Its Homes

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