The National Association of Home Builders (NAHB) announced that it will cut US$11.5 million from its 2009 operating budget and eliminate 52 positions, of which half are currently vacant.
Jerry Howard, president and CEO, said "In my 20 years at NAHB, including the past eight years as president and CEO, this is by far my toughest and most difficult decision. The staff cutbacks touch on the careers of dedicated professionals who have been committed to the mission of our industry. They are good, talented and hard-working people. Nevertheless, the stark financial realities confronting our association and industry cannot be ignored. Projected income from NAHB's two principal sources -- membership and trade shows -- will be down significantly in 2009."
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