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Ryland Staff to Lose Jobs

All 50 employees – except the chief executive – of Westlake Village home builder Ryland Group Inc. appear likely to lose their jobs in the aftermath of the company’s $5.2 billion merger with Irvine-based Standard Pacific Corp. An employee who asked not to be identified said that none of the Ryland management team or back-office staff has been offered jobs with CalAtlantic Group Inc., the name of the combined company. Staffers have received termination notices with varying leave dates and severance packages since the merger was announced over the summer, the employee said. The two companies combined to form CalAtlantic Group Inc., the country’s fourth-largest residential home developer, in a deal that closed last week. Ryland’s former chief executive, Larry T. Nicholson, has been named chief executive at CalAtlantic. CalAtlantic spokeswoman Danielle Tocco said the Ryland office is closing but added “it is not accurate” to say that all the employees in Westlake Village will be laid off. She would not comment on whether any Ryland employees would be offered jobs with CalAtlantic, saying that determination is being made on a case-by-case basis. The firm intends to close the Ryland office at 3011 Townsgate Road by the end of this year, the employee said. CalAtlantic has announced that it will operate out of offices in Irvine and northern Virginia. When the merger closed, CalAtlantic announced an expected 10 percent cut in its workforce along with anticipated cost-savings of $50 million to $70 million by late next year as a result of the merger.

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