Homebuilder halts construction

John Laing Homes, a stalwart of residential construction in California with roots that date back to England of the mid-19th century, said Thursday it is attempting to cope with a cash squeeze and has launched a restructuring that includes job cuts.

The developer has halted construction at several Northern California projects, including a number in the Bay Area, contractors said. Residents who have moved into the homebuilder's unfinished developments say they are worried about the ominous implications of John Laing's construction shutdown.