Building company Heijmans said on Thursday it is cutting 200 out of 875 jobs at its residential housing division because of falling orders and thin margins.
The Dutch housing market is in crisis as the economic downturn and changes to mortgage regulations reduce the number of people buying new homes.
Other sectors will also be subject to ‘measures’ to remain competitive, chief executive Bert van der Els said. ‘That is why we are now taking the necessary stops to create a good position for 2013,’ he said.
Heijmans also said third-quarter revenues remained unchanged from the year earlier period, without giving concrete figures.
The company also has a stable order book of more than €2.1bn, the trading update said.