More Employees of Standard Pacific to be Laid Off

May 8, 2009

Irvine – Homebuilder Standard Pacific Corp. has laid off more than 30% of its workers in 2009's first quarter, and yet, more cuts are expected to come.

The company’s CEO Ken Campbell said that more cuts are to be expected as they aim to trim down further the number of their employees to just around 800. No number of employees to be laid off was indicated.

Reports indicate that the recent 50 workers that faced unemployment are among the 380 employees laid off this year. The latest cut has reduced their workforce from 1,300 to just around 900.

The homebuilder also lessened its 24 operating divisions in the nation to just nine. The recent cuts and downsizing are a part of the financial crisis that almost every company is going through.