Wednesday, November 25, 2020

International property and investment group restructuring its offices

JLL Property & Asset Management has decided to restructure its offices and move jobs elsewhere

International property and investment group, JLL Property & Asset Management is restructuring its offices across the UK. This may lead to job losses at the company’s various offices in the country. The company has already confirmed its restructuring plans for its Norwich base. It has also confirmed changes at its Austin and Cavell House sites. The multi-billion dollar American company is the second-largest commercial real estate broker in the world. As part of its restructuring process, the property management magnate will move some of the jobs overseas.

The company’s service charge department, which is currently based in Norfolk, will be transferred to its global business centre in India. One of the company’s accounting teams will be consolidated in Norwich. A spokesperson for the company confirmed that following the completion of due diligence, a consultation had begun, but did not reveal how many of the 350 Norwich-based workers would be affected by the restructuring process. The spokesperson said that this is a move that the company has properly researched and considered and now has the requisite infrastructure to successfully implement the plans. It has entered into a period of collective consultation. She said that the company was committed to “providing property management services of the highest standard”. As the company has only just begun the consultation process it is obviously unable to confirm exact numbers at this stage. She added that however, it can confirm that it is proposed that the number of roles relocating to Norwich is greater than those moving to India.

The company’s Norwich office was set up in 2000 and houses the group’s property team as well as the accountancy operation team. The decision by JLL follows close on the heels of a similar decision by PwC which closed down its Norwich office, affecting 81 staff.

The company said that it will leave the current office by next April and the staff will be offered role elsewhere in the business. It said that some will be asked to work remotely.

On a bigger scale, approximately 1,500 jobs have been lost or put to risk in Norfolk and Suffolk since the summer, affecting workers at Britvic, Colman’s, BAE Systems, Palmer & Harvey and the Construction Industry Training Board among others.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Leave a Reply

5 × five =