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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
09/20/201617:45:00Lennar, KB Home Profits Top Estimates Amid Housing Recovery--Update
09/20/201616:12:07Current Report Filing (8-k)
09/20/201616:05:00KB Home Reports 2016 Third Quarter Results
09/14/201616:22:00KB Home to Webcast Presentation at the Deutsche Bank 24th Annual...
09/14/201611:00:00KB Home Announces the Grand Opening of Mission Terrace in San...
09/06/201616:05:00KB Home to Release 2016 Third Quarter Earnings on September 20...
08/31/201611:00:00KB Home Announces the Grand Opening of Villas at Sycamore Farms...
08/18/201612:49:38Current Report Filing (8-k)
08/18/201611:00:00KB Home Names Glen Longarini as President of Its Los Angeles/Ventura...
08/17/201608:00:00KB Home Announces the Grand Opening of Chandlers Crossing in...
08/16/201610:00:00KB Home Acquires Land for Two New Communities in Castle Rock
08/10/201608:00:00KB Home Announces the Grand Opening of Vista Pointe in Jacksonville’s I...
08/09/201609:00:00KB Home Announces the Grand Opening of Copano Ridge in Universal...
08/09/201608:00:00KB Home Announces the Grand Opening of Landings at Wells Branch...
08/03/201611:00:00KB Home Names Amy McReynolds as President of Its Tucson Division
07/27/201617:38:14Statement of Changes in Beneficial Ownership (4)
07/21/201611:00:00KB Home Announces the Grand Opening of Mission Villas in San...
07/21/201609:10:00PulteGroup Reports Upbeat Earnings
07/20/201616:54:52Current Report Filing (8-k)
07/19/201608:00:00KB Home Announces the Grand Opening of Creekstone in Orlando

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