Nexity, the leading French real estate developer, will cut 502 positions

This social plan was announced at the end of February, without the group specifying how many positions would be affected.

Nexity will cut 502 positions to deal with the deep construction crisis, the leading French real estate developer announced on Thursday April 25. “We have confirmed to our social partners that the information-consultation process prior to the deployment of a job protection plan (PSE) will be initiated and it will involve the elimination of 502 positions”declared to the press the deputy general director of the group, Jean-Claude Bassien.

Like its competitors, Nexity is caught between rising construction costs, caused by material prices and stricter environmental regulations, and the collapse in demand, caused by difficulties in accessing credit and the end progressive tax incentive schemes. This social plan was announced at the end of February, without the group specifying how many positions would be affected.

The plan will cost Nexity around 50 million euros

“There will be no departure under the PSE before the fall, and rather at the end of October“, taking into account legal procedures, specified Jean-Claude Bassien. “We have continued our actions in terms of reducing our operating cost base”he also underlined.

These job cuts concern the workforce of the promotion-construction division, which decreased by 27% compared to 2022. Nearly 400 people have already left the group even before the implementation of the social plan, denounced to AFP the CFDT union representative for this branch, Emmanuel Brie. “We are going to fight so that there is as much mobility and voluntary departures as possible”did he declare.

The cost of this job protection plan for the group is estimated at around 50 million euros, detailed Nexity. The real estate developer estimates that it will enable it to make 36 million euros in savings from 2025, then 45 million per year from 2026.