Cushman & Wakefield is to make up to 80 redundancies across its UK business in the next two months.

The firm will enter a consultation process with its staff. It said the job cuts would predominantly affect the transactional departments and it hoped to redeploy staff where possible.

Bryan Laxton, chief executive of Cushman & Wakefield in the UK said: ‘Whilst regrettable, this action is necessary to ensure we align our resources with changing market conditions and to ensure that we are in the best possible shape to withstand a challenging year ahead.

As a private firm, with low levels of debt, this move will enable us to maintain the strongest, most effective service platform in a rapidly changing economy, to capitalise on opportunities and to continue to provide the highest level of service to our clients.’