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Vistry seeks to cut staff numbers ahead of SAHP to preserve cash
House builder Vistry is offering staff voluntary redundancies to preserve cash as it waits for the Social and Affordable Homes Programme (SAHP) to begin.
Vistry seeks to cut staff numbers ahead of SAHP over cash pressures #UKhousingAccording to a report in The Sunday Times, Vistry’s chief executive Adam Daniels wrote to all staff below managing director grade on Wednesday to launch the “voluntary exit scheme”.
Mr Daniels, who was appointed chief executive earlier this year, said the scheme is being introduced to “provide an opportunity for colleagues who feel that their future may lie outside Vistry to apply to leave the business on enhanced terms”.
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Vistry, which is grappling with a market slowdown and increased costs due to war in the Middle East, is relying on expected demand from affordable housing partners to help recover reduced profit.
Successful bids to the £39bn SAHP will be announced by autumn.
In an update in May, the house builder said it expected profit in the first half of 2026 to be “significantly lower than the prior year”.
It said this was in part down to increased discounting on open market sites to drive sales and generate cash.
Vistry also said that activity with affordable housing partners so far this year has been “relatively subdued as the industry transitions” between the previous and current grant programmes.
A Vistry spokesperson said the house builder has “made it clear that we are prioritising cash generation and are taking decisive steps to reduce debt levels”.
“While current market conditions are challenging for all companies in our sector, we continue to build at scale and pace, delivering the homes this country so desperately needs,” they said.
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