Knight Frank is reducing staff numbers with up to 100 roles in consultation.
Alistair Elliott, senior partner and group chairman at Knight Frank, told EYE:
“In response to the market challenges faced as a result of the Covid-19 pandemic, we have conducted a review of our operations which has highlighted the need to make a limited number of roles across our UK business redundant.
“These decisions are never undertaken lightly but, given the extreme circumstances, are essential to future-proof the firm and ensure we are in the best possible position to continue to deal with the ongoing challenges.”
Allsop has apparently put 26 roles into a consultation process and is reported as saying:
“This is a highly regrettable outcome of the Covid-19 crisis, which Allsop – like most property firms – has not been immune to.
“While both our auction teams have fortunately been extremely busy during lockdown, some other transactional markets in the UK are being far slower to recover.
“As we are largely a transactional business, we are inevitably having to respond to the sharp drop in volumes across some areas of the business, such as capital markets and leasing.”
In the commercial property world, JLL and CBRE are also said to be reducing the numbers in their workforces.
The news comes a fortnight after EYE revealed that consultations are under way within BNP ParibasReal Estate, the holding company of Stutt & Parker.
It is now thought that 250 jobs will go by September.