Yeartodate sales rate till Feb. 26 at 0.62outlet
Order book down about 26 at 2.15 bln pounds
Expects to build 9,00010,500 homes in 2023
Shares edge up 1.2

March 2 Reuters British homebuilder Taylor Wimpey said it was cutting jobs as it seeks to reduce costs after flagging weaker sales and forecasting it would build about a quarter fewer homes this year than in 2022 in the face of a slowdown in the housing sector.

Britain39;s largest homebuilders have already cut back their building targets as higher mortgage costs and economic uncertainty depressed buyer demand.

Some roles were made redundant, some were actually vacant following the recruitment freeze we had undertaken earlier in the year and we deployed some employees to other parts of the business that require them, Chief Executive Jennie Daly told Reuters on Thursday.

The redundancies were across all business departments, Daly said but did not specify how many of its workforce of around 5,000 could be affected, adding that consultations were ongoing.

The company said in January that it was expecting to generate annualised savings of about 20 million pounds 23.95 million from costsaving steps.

It said the average selling prices for private home builds was expected to be at a similar level to the 367,000 pounds registered in the second half of 2022.

Taylor Wimpey has indicated that sale prices are likely to remain firm despite recent house price index evidence, Oli Creasey, equity research analyst at…