It had to happen but now is the time, reports the Associated Press. The Bloomfield Hills, Mich.-based home builder has said that the bad times in the new home business mean it will cut 1,900 jobs or 16 percent of its workforce.The cuts will save $200 million before taxes.

”The homebuilding environment remains difficult, and our current overhead levels are structured for a business that is larger than the market presently allows,” Richard J. Dugas Jr., president and chief executive, said in a news release. The company lost nearly $86 million in the first quarter.

No word on exactly where the cuts will come but some of them have to be in the Las Vegas Valley, given the large Pulte/Del Webb presence in Southern Nevada. Pulte has already downsized, cutting 1,500 workers nationwide in the last two years.