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Surveyors axed in blitz on costs
5 Nov 2008Chartered surveyors in London were today braced for further bloodshed as a fresh wave of redundancies rocked the property industry.
Jones Lang LaSalle axed another 30 to 40 staff, having shown as many as 80 of its 1400 UK employees the door little over a month ago.
Staff at CB Richard Ellis were also preparing for bad news, with the firm set to announce that as many as 60 jobs will be cut.
Rivals including DTZ, Savills, Knight Frank, Allsops and Atisreal have also been axeing staff as the economy plunges into recession and the property market crumbles.
A JLL spokeswoman said that the firm had to take the "difficult but necessary decision" to make the new redundancies "in light of the continuing challenging financial and economic climate".
She added: "These are part of a wider, strategic cost reduction exercise to ensure the firm's ongoing competitive market position."
