JLL has begun a redundancy consultation process across its UK business and has confirmed that around 200 UK-based roles could be affected.
“The global pandemic and economic instability have accelerated the changing nature of our business, and we continue to extensively review our operations and cost base in line with market conditions and client needs,” JLL said in a statement.
“As a result, we are reshaping our UK business and have announced today that we will be commencing a consultation process for proposed role redundancies… Where possible, we will seek redeployment opportunities and we will do everything we can to support those affected through the consultation process.”
In July it was reported that JLL was looking at culling its UK workforce along with Knight Frank and Avison Young as the coronavirus pandemic took its toll on the sector.
CBRE was also set to potentially scrap up to 250 roles, while Allsop had put 26 roles on consultation and BNP Paribas Real Estate was consulting on 250 roles within its business with an outcome expected in September.
JLL reported last month in its half-year results an operating loss of $53.9m across EMEA and a 17% drop in fee revenue to $578.5m.
The agent admitted that its transaction-based revenues were “especially” lower in the UK and France, and that it had taken advantage of various government relief programmes across EMEA totalling around $14m, to help it retain more jobs and give it more financially flexibility.