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Commercial Property News
Jones Lang LaSalle announce up to 80 UK jobs to go
Jones Lang LaSalle is cutting 60-80 jobs, or 4-6% of its workforce in the UK, due to the property market downturn, the global real estate services firm said today.
A spokeswoman for the company, which employs more than 30,000 people in 60 countries and has its headquarters in Chicago, said the redundancies in England would apply across its businesses in England and followed a “limited number” of previously announced job losses at its U.S. and Australian operations.
Competitors are also expected to make similar cuts and todays bankruptcy of Lehman Brothers will extend the timeframe that any market recovery might start in, which will prompt firms to shed carrying costs through the downturn. “You have to say that - for wholesale market activity - this news is going to push back the date at which people say they are going to start taking space again,” said James Roberts, head of central London research at consultant Knight Frank. “We’re in this for the long-haul,” he said.
A spokeswoman for the company, which employs more than 30,000 people in 60 countries and has its headquarters in Chicago, said the redundancies in England would apply across its businesses in England and followed a “limited number” of previously announced job losses at its U.S. and Australian operations.
Competitors are also expected to make similar cuts and todays bankruptcy of Lehman Brothers will extend the timeframe that any market recovery might start in, which will prompt firms to shed carrying costs through the downturn. “You have to say that - for wholesale market activity - this news is going to push back the date at which people say they are going to start taking space again,” said James Roberts, head of central London research at consultant Knight Frank. “We’re in this for the long-haul,” he said.
Mon, 15th Sep 2008