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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
06/24/201616:07:57Annual Report of Employee Stock Plans (11-k)
06/22/201609:00:00KB Home Announces the Grand Opening of Cayden Creek in Conroe
06/21/201617:00:00First-Time Buyers Boost KB Home Results
06/21/201616:23:18Current Report Filing (8-k)
06/21/201616:15:00KB Home Reports 2016 Second Quarter Results
06/14/201608:00:00KB Home Recognized with Seventeen 2016 ENERGY STAR® Certified...
06/09/201611:00:00KB Home Celebrates Model Home Grand Opening at Hideaway in Hayward
06/07/201616:15:00KB Home to Release 2016 Second Quarter Earnings on June 21, 2016
05/26/201610:00:00KB Home Acquires Land for 199 Homes in Boulder County
05/19/201609:00:00KB Home Announces the Grand Opening of Dove Creek in San Antonio
05/17/201609:00:00KB Home Acquires Land for 234 New Homes in Texas Research Park
05/13/201609:43:00U.S. Hot Stocks: Hot Stocks to Watch
05/13/201606:01:39Current Report Filing (8-k)
05/12/201618:30:00KB Home to Leave Washington, D.C., Market
05/12/201616:15:00KB Home to Exit Metro Washington, D.C. Market
05/05/201610:00:00KB Home Announces the Grand Opening of Segretto in Gilbert
05/04/201616:15:00KB Home to Webcast Presentation at the J.P. Morgan 9th Annual...
04/28/201608:08:00Corporate Social Responsibility Related News Releases and Story...
04/27/201611:00:00KB Home Celebrates Model Home Debut at New Community in San Jose
04/22/201608:00:00KB Home Publishes Ninth Annual Sustainability Report

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