The National Association of Home Builders
announced Tuesday that it is cutting staff and operations, a move it said would
save $11.5 million next year.
The
National Association of Home Builders announced Tuesday that it is cutting
staff and operations, a move it said would save $11.5 million.
Jerry
Howard, association president and CEO, said the cuts were necessary to ensure
that it “remains the premier advocacy and service trade association for the
residential construction industry.”
"In my 20 years at
NAHB, including the past eight years as president and CEO, this is by far my
toughest and most difficult decision,” Howard said. “The staff cutbacks touch
on the careers of dedicated professionals who have been committed to the
mission of our industry. They are good, talented and hard-working people.
Nevertheless, the stark financial realities confronting our association and
industry cannot be ignored.
“Projected income from
NAHB's two principal sources -- membership and trade shows -- will be down
significantly in 2009,” he added. “To balance NAHB's operating budget, we will
be eliminating 52 positions of which half are currently vacant. The layoffs
will take effect immediately. In addition, we will also be sharply reducing
expenditures previously approved for 2009.
"By taking this action
now, we help position the association to maintain its advocacy leadership and
vital services for an industry struggling in the toughest economic environment
seen in generations,” Howard said.
The
NAHB is scheduled to hold the International Builders’ Show Jan. 20-23 in Las
Vegas.
