One of the country’s largest estate agents has announced the loss of hundreds of jobs, sparking fears that the property slowdown will force wholesale restructuring in the rest of the industry. The Times, Daily Telegraph.
LSL Property Services, owner of the 290 Your Move offices, revealed that it had closed 12 branches and cut 315 full-time jobs across its surveying and estate agency businesses, after house sales fell in a weakening property market.
The cuts are the first large-scale redundancies in the sector, which employs 50,000, since the property slowdown began late last year.