Tulloch Homes axes 40 staff

Scottish housebuilder Tulloch Homes will axe 40 jobs across the country.

The Inverness-based firm has already cut 18 staff this year to cope with the downturn and is expected to cut 29 of the 40 jobs in the Highlands, according to the BBC.

In April, the Bank of Scotland acquired a 40% stake in Tulloch for £27.5m.

Scotland’s housing market was expected to outperform the UK national average and be more resilient in the downturn than England.

But as reported in CJ last month, Tulloch Homes chief executive David Sutherland was not feeling confident.

He said the government’s target to build 240,000 homes this year did not “have a cat in hell’s chance of being met this year or next.”