Axe falls as agency firms review financial position
Article Abstract:
Leading property agencies Healey and Baker and Richard Ellis are both undertaking reviews in the light of a weak market. The former could reduce its workforce of 500 by as much as 5% or 10%, while the latter has already laid off 30 staff. Healey and Baker has warned that 1995 turnover will not be greater than 1994 turnover, while Richard Ellis is developing retail activities in the hope of ensuring a more positive future.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1995
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Spate of restructurings fuels further speculation
Article Abstract:
Michael Laurie Partnership has denied rumours that it may be taken over by Catella Sweby Cowan, and has also stated that it is not in receivership. However, it has admitted that it is actively seeking expansion opportunities. There has also been speculation regarding the future of Weatherall Green and Smith, which has recently made 33 redundancies.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1995
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New cash ends latest CEL episode
Article Abstract:
Colliers Erdman Lewis (CEL) has introduced a new pay structure involving all staff taking salary cuts of up to 10% as part of plans to ensure its survival. It has organised funding of 500,000 pounds sterling, and has also arranged a new eight-year bank loan. It now plans to concentrate on core areas and new fee-generating activities.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1995
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