DTZ has started consultation with UK staff this week for up to 100 roles facing redundancy.

DTZ said the redundancies are in: ‘direct response to the challenging market conditions the industry is facing’.

The roles affect all levels across the UK.

A DTZ statement said: ‘The consultation will determine the extent to which the people in these posts can be redeployed to growth areas, minimising the need for redundancies.’

Chris Balch, managing director of UK & Ireland, said: ‘We have not taken this decision lightly. For every role we identify, redundancy is the last option when all other alternatives have been considered.’

DTZ has already made more 100 redundancies over the past six months.

DTZ last week raised £48.7m of new equity through a sale of shares. In a strong take-up for its firm placing and placing & open offer, which was launched on 19 December, DTZ said on Friday it had received £35m from its largest shareholder SGP Investors and £13.7m from other existing and new investors.