Fifteen jobs have been lost at Belvoir’s head office this week, with some more to follow.
In addition, the franchising group has urged all of its business owners to conduct an “aggressive” review of their cost base.
Last night Belvoir CEO Dorian Gonsalves told EYE: “Centrally, as a franchisor, we directly employ at any given time between 120 and 150 people. This includes employees within our franchise support team, general administration and finance, legal administration, HR, mortgage advisers, and direct lettings and estate agency by means of centrally owned high street offices.
“As a network, there are over 2,000 people employed by the franchisor or employed by franchisees.
“On Monday of this week I reviewed all roles that have been created within the last two years and, as a result, sadly, I terminated 11 employment contracts within our central office team and four further contracts within Northwood and Newton Fallowell .
“A full review of roles across our subsidiaries is ongoing and I expect that a further modest reduction in staff numbers will follow in the coming weeks.
“I will attempt to re-employ some or all of these people dependent on the length and depth of this downturn. All staff who fall into a high risk category have already been given the ability to work from home.
“I have also written to franchisees across all brands and recommended they do the same alongside an aggressive review of their cost base.”
Gonsalves added: “Franchising is a robust business model with a highly motivated, determined and committed franchisee at the heart of almost every all our offices.
“It’s a difficult time for all small businesses across our sector and I have asked our franchisees to stay safe and healthy during these unprecedented and unexpected events.”