Avison Young’s UK arm has placed roles across its entire London business on redundancy consultation, as part of a review that will potentially result in 100 job losses across both the capital and regions.
The London operations comprise around 600-700 employees.
It is understood that the redundancies will be split 50:50 between its London and its regional offices, where it has placed individual roles on consultation.
The agent notified its UK workforce of its decision last week.
Jason Sibthorpe, principal and president of Avison Young’s UK arm, confirmed to EG: “Navigating the business impacts of Covid-19 has been a challenge for us, as it has for our clients, our communities and the wider UK economy.”
He added: “Our company is centred around people and these are not easy or quick decisions to make. We are incredibly proud of all of our people – for both their continued commitment to serving clients and the resilience they have shown during this unprecedented time.”
The agency will support affected employees by extending access to its employee assistance programme resources, and providing coaching and mentoring support.
He said: “While we are beginning to see some green shoots in certain regions and sectors, we have taken these measures to bring Avison Young through this period set up for the future so we can continue serving our clients to the highest standard.”
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