The Real Deal Miami

Bluegreen announces layoffs

November 24, 2008 09:20AM

Timeshare developer Bluegreen Corp. plans to lay off 122 office staff
at its Boca Raton headquarters, beginning on Jan. 20, according to its
most recent Securities and Exchange Commission filing. The company said staff
reductions and sales office closures were part of its plan to slow its
unit sales while conserving capital. This will reduce its inventory
spending — which includes construction, acquisition and sales — from
$215 million during the 12 months ended Sept. 30 to about $45 million
in 2009.