Cushman & Wakefield is proposing a number of redundancies following a strategic review, including cuts in its retail team.
While the job cuts are a direct outcome of a long-term review rather than a response to any specific event, disruption caused by coronavirus has also indirectly created pressure on operating models to be as efficient as possible.
The agent plans to make a number of job cuts in “select” areas, understood to include its shopping centre investment team. The remainder of the trio that had joined from niche agency Coady Supple last year – international partner Dermot Supple and partner David Sadler – are thought to be among those departing.
Supple and Sadler joined the firm nearly a year ago alongside Robin Coady, who left in February.
A spokesperson for Cushman & Wakefield said: “We have taken the difficult, but necessary, decision to reduce our UK workforce in select areas following a comprehensive global review of our business.
“Aligning our organisation to our new strategic priorities will allow us to be more efficient in delivering the best service for our clients.
“It is not a decision we have taken lightly and we are in the process of consulting with impacted individuals. Anyone who does leave the organisation will be offered full support, including outplacement counselling and enhanced redundancy terms.”
Retail investment and agency teams across the board will have felt the brunt of the slowdown in retail, which has suffered widespread disruption from the coronavirus pandemic.
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