UK housebuilder axes 1,100 jobs

Housebuilding giant Persimmon today said it had laid off more than a fifth of its workforce since January as it faced up to the toughest conditions in the group’s recent history.

The firm said the number of house sales had slumped by 31% to 5,501 in the first six months of the year, leaving sales revenues down by more than a third at £1bn.