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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
05/20/201511:00:00KB Home Announces the Grand Opening of La Ventilla in Goodyear
05/19/201511:00:00KB Home Announces the Grand Opening of Silvercreek at Audie Murphy...
05/18/201508:00:00EPA Honors KB Home with 2015 Indoor airPLUS Leader Award
05/15/201508:00:00KB Home Announces the Grand Opening of Sawgrass Pointe in Southeast...
05/15/201508:00:00KB Home Announces the Grand Opening of Autumn Overlook in Taylor...
05/14/201511:00:00KB Homeâs Wildflower at Las Haciendas is Now Open in Victorville
05/14/201508:00:00KB Home Announces the Grand Opening of Medford Lakes in Riverview
05/13/201512:13:00KB Home to Webcast Presentation at the J.P. Morgan 8th Annual...
05/13/201511:00:00KB Home Announces the Grand Opening of Sin Lomas in Goodyear
05/12/201511:00:00KB Home Announces the Grand Opening of Creekside Park in San...
05/11/201511:00:00KB Home Announces the Grand Opening of Cadanera in West Covina
05/08/201511:00:00KB Home Introduces Willow and Cypress at Tilton Park in Morgan...
05/08/201511:00:00KB Home Debuts New Boulder Point Community in San Diego County
05/06/201510:00:00KB Home Announces the Grand Opening of Its Copperstone Community...
05/05/201511:19:45KB Home Lifted to Buy at Zacks (KBH)
05/05/201511:00:00KB Home Announces the Grand Opening of Marquee in Fair Oaks
05/04/201512:00:53Zacks Lowers KB Home to Hold (KBH)
05/04/201511:00:00KB Home Debuts Two New Neighborhoods at Laurel Hills in Las Vegas
04/30/201511:00:00KB Home Announces the Grand Opening of Seneca in Murrieta
04/29/201511:00:00KB Home Announces the Grand Opening of Solaire in Sunnyvale

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