Vistry strategy shift ‘making good progress’ but job losses loom

Housing and regeneration specialist Vistry has issued a trading update, in which it said its plans to focus on its partnerships business are progressing well - but warned of up to 200 job losses in the future.

In September, the firm announced its intention to fully focus its strategy on its partnerships model, and its latest update said this effort is “making good progress”. 

Under the plans, the group will operate as a single business with 27 regional business units, down from 32. 

As part of this restructuring, Vistry said headcount will reduce by circa 200. This is separate to the approximate 4% reduction in the total number of roles in connection with the firm’s acquisition of rival developer Countryside.

Vistry said it is seeing “continued demand for mixed tenure affordable homes” from across registered providers, local authorities and the private rented sector, “demonstrating the differentiation of our business model”.