Dominion Homes Reduces Workforce, Initiates Cost Savings Plan 11/17/2004
DUBLIN, OH -- Facing a housing market decline in the Midwest, Dominion Homes has announced several cost savings initiatives to preserve its market share and keep the company’s balance sheet healthy. The company’s third quarter sales declined 16 percent over year-earlier figures.
Douglas G. Borror, Chairman and Chief Executive Officer of Dominion Homes announced that the company has reduced its full-time workforce from a high of 700 in May 2004 to just under 600.
It also plans to launch an aggressive plan to better manage inventory, reduce operating costs and review future land needs.
Borror concluded the conference call with the following statement, “While the third quarter has presented us with many challenges, we are still positioned to deliver the third best year in our Company’s history.”
The company’s website is located at: http://www.dominionhomes.com |
