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Vistry rolls out voluntary redundancies to cut costs

Financial Times Companies •
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UK housebuilder Vistry has emailed staff a voluntary exit scheme offering up to two months’ pay plus an additional lump‑sum. Chief executive Adam Daniels framed the move as a way for employees who feel their future lies elsewhere to leave on enhanced terms. Applications remain open until June 23, and the offer targets senior and operational staff.

Vistry is battling a housing‑market slowdown and rising build costs linked to the Iran conflict. The firm has been managing cash and warned that cash‑generation efforts would slash profits. To conserve liquidity it paused its share‑buyback programme and is offering discounts on low‑margin sites to spur sales. The slowdown also forced Vistry to pause new land acquisitions, tightening capital deployment.

Vistry’s move highlights a focus on cash generation and debt reduction, setting it apart from peers that rely on private‑sale margins. Analysts and officials have recently questioned the builder’s balance sheet, and the voluntary scheme underscores pressure on its affordable‑housing model. Debt fell to roughly 1.9 times EBITDA in the latest quarter, giving a modest cushion.