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The UK House Builder Vistry invited the staff in the office full -time as part of the effort to return the job to the path after the undervaluation of the construction costs caused excessive spending of the multi -pounds.
The FTSE 250 Group, Britain’s largest number of homes in the number of homes, issued three profit warnings in the last quarter of last year, after discovering expenses in one of its regional departments.
Executive President and CEO Greg Fitzgerald said on Wednesday, on an invitation with analysts that the problems were: “I was particularly hit by my ass.”
The company has already implemented an internal audit, removed several higher executives and restructured its managerial team in response to problems, which contributed to a £ 165 million hit on profit over three years.
Fitzgerald added that in the last six weeks the company has sent all the staff to return to the office five days a week as part of its answer.
Full -time return to office mandates caused tension In other companies: employees often prefer hybrid work, while managers think that the attendance of the office increases performance.
Vissty has previously allowed a hybrid that works for some staff and one to two days a week at home, depending on the job. The company also marked the “reduction of the number” during the first quarter, without discovering the number of roles it reduced.
Vissty said: “There are real benefits of working in the office of five days a week. This includes collaboration, sharing ideas, opening communication and development of unity feelings. At the beginning of the year we decided to move to this model and function well.”
The group, which was taken over by rival rural partnerships in 2022, said that the internal review of the cost of exceeding the costs blamed the factors, including “insufficient ability to manage, non -compliant commercial prediction processes and poor division.”
The main questions were found in the southern division of the company, but Vissty said he would tighten controls throughout the group.
Vissty reported on Wednesday that the profit was adapted before the tax fell to 35 percent, to £ 263.5 million, just ahead of the reduced management guidelines after a profit warning.
He increased the provision on the safety of the building by £ 117 million after discovering several buildings that required work to eliminate the fire security problem.
The Visty shares on Wednesday morning fell about 5 percent. The company was one of the most successful British builders, with a special emphasis on the construction of an affordable housing.
