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Homebuilders cuts staff, expenses to balance budget

Trade association predicts revenue from trade show, membership will decline significantly in the next year; group aims to protect advocacy role In the throes of the worst housing market decline in 50 years, the National Association of Home Builders said today it would cut 52 staff positions and shave operating expenses at its Washington headquarters in order to balance its budget. The cutbacks would be immediate, said CEO Jerry Howard, estimating the group would save $11.5 million for the association in the next year. NAHB operates with $112 million in annual revenue. A main driver behind the cuts is the projected double-barreled threat to the group’s main revenue… Read More