Persimmon cuts 1,000 jobs

Mon Jul 7, 2008 9:55pm BST

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LONDON (Reuters) - House builder Persimmon (PSN.L) will confirm on Tuesday that it has made around 1,000 staff redundant, the Telegraph reported on Monday, without citing sources.

The paper said this would bring the total number of job cuts announced in the sector over the past seven days to 3,200, with Taylor Wimpey (TW.L) and Barratt Developments (BDEV.L) also cutting staff.

Shares in Britain's housebuilders have plunged in recent weeks as home buyers have pulled out of the market amid tighter lending conditions by banks, an uncertain economic outlook and falling house prices.

Persimmon could not immediately be reached for comment.

(Reporting by Mark Potter; Editing by Quentin Bryar)

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