If you look at how we have been performing lately you'll notice that Pulte might have major cuts in Q1 of 2016. 2015 was rough, and the stock has lost a ton of value, people are not happy and things are not developing in the right direction. At the same time, the executives seem pretty lost in all of this and I am not sure how this saga will end. I am in IT and I will be starting to look for a job.
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Pulte along with Greg Huff had a plan to slowly get rid of all JW employees and change the product to a Pulte sh-- box. Sales have dropped off because of the Pulte name.
The number I heard was 400 people by a "senior" person in Atlanta. It was done at the "suggestion" of our friends in the hedge fund business. 1) generous helping of 400 layoffs and 2) a massive stock buyback. I really don't know why the bother sending people to tell boards this anymore - a form letter would be cheaper.
I had a high position with Pulte few months ago. I took off with all other managers... After first quarter numbers came out... then April was terrible... I start applying to other jobs. The quality creation is killing Pulte... It takes longer to build a house and more expensive to customer while it looks just like the house across the street built by Lennar and 20% cheaper.
Value creation is about penny pinching the consumer since you are not getting a better house. In their defense "A poorly educated consumer is a builder's best customer", in general you are not getting what you are paying for. Regarding layoffs, is a shame that poor management leads to this. The new office space criteria has lead to new extravagant office space, so the overhead had to be rebalanced. The number one residential builder spot is up for grabs......
People were let go in Houston as well. I think it was 10 office workers and several field personnel.
Over 100 people laid off in Atlanta this week. Top heavy Managers were very cold about it and good people were let go on the spot this past Monday. No time to clear off a desk, get belongings or anything. Given the boot and a good riddens. Pulte has always had a terrible history of working their people to death and then disposing of them like garbage. Sad excuse for a company
New era? Are you kidding. They are now a distant third place player and are trying to catch up before they are in fourth place .....no Olympic metal for 4th place Pulte
The buck stops with the Board of Directors, they are responsible for this. They selected Dugas, approved Failed centex acquisition, approved land buys that resulted in no llions of losses, layoffs, supported the costly and pointless headquarters relocation to Atlanta and now forced to admit they have too many people and too much overhead
Lay the Board off !
they saying it is going to be new era and next thing for company
Value creation 2 is what they called it Who came up with that?
What a human tragedy, great people ......value destruction!
It SUPPOSEDLY was about cutting overhead. Cut some ceo's there's you overhead. Company hit hard across the nation. From worker bees to higher ups. Next up President of company replaced in spring of 2017
Actually there was one executive that actually knew what he was doing but the culture and atmosphere and direction the company was going in was so bad that he walked.... .
Yep, husband was laid off today in Arizona.
60 people in Atlanta told their department is being eliminated. Sent home for the day. Told you o return tomorrow to find out their fate.
layoffs have begun company wide today 200-300 people
There will be laying off around 100 employees in the next week...
We seem to be doing just fine...
Post if you hear anything.