CBRE has made a number of redundancies across its valuations business.
Sources said the restructure was part of a programme of improving services for clients and making use of technologies.
The agent is understood to have put its entire valuations team on notice earlier this year with a small number – believed to be around a dozen – being made redundant and others redistributed throughout the business.
Sources suggested the slimming down of the valuations division came as the company looked into utilising technology and AI to automate parts of the process.
CBRE has recently restructured a number of parts of its business, creating new head of sector positions and bolstering its client advisory services.
Recent moves include Nick Knight, former head of UK valuation and advisory services, taking up a “senior strategic role” in the business, with Lee Bruce taking over as head of the UK valuation and advisory business, Kaela Fenn-Smith moving out of the ESG consultancy business to become head of client partnerships, and Rob Madden becoming head of UK leasing, working alongside head of UK occupier Julie Ennis.
CBRE said: “CBRE entered into a consultation with a limited number of employees in our UK valuation business. The work is transitioning to other parts of the business as we drive to operate a more efficient business.”
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