Lambert Smith Hampton is reviewing options to put its fee-earners and support staff on furlough schemes, as part of cost-saving measures to tackle disruption from coronavirus.
Under new measures, furloughed staff would have 80% of their salaries paid by the government, equalling up to £2,500.
Ezra Nahome, chief executive at LSH, said that “taking early intervention should place the business on a stronger long-term footing”.
“The property industry is facing an unprecedented situation. Our absolute focus remains the health, safety and wellbeing of our people,” said Nahome.
“At the same time, we must protect our business too. It means we are reviewing furlough options in accordance with the UK government’s guidelines.
“This should provide the necessary tolerance to allow businesses and the economy to respond positively once a degree of normality has returned.”
The coronavirus pandemic is piling pressure onto operating models.
Others taking steps to improve efficiencies during this time include Cushman & Wakefield, which is proposing a number of redundancies following a long-term strategic review. These are thought to include cuts in its retail team.
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