Estate agency Savills is reportedly working on a plan to furlough some of its staff during the Covid-19 outbreak.
The property company is the latest agency to make the announcement – after real estate firms CBRE and Colliers International reportedly made similar announcements for some of their UK employees this week.
Companies accessing the Governments’ scheme are able to claim for 80 per cent of furloughed employees’ monthly wages, up to £2,500 a month.
Savills told Property Week: “Savills is committed to protecting the wellbeing of its staff and their long-term employment during the Covid-19 global pandemic crisis.
“Where applicable, the group will examine and avail itself of the support offered by governments and respective job retention initiatives.”
According to Property Week, CBRE is furloughing an “unspecified number” of staff in its UK advisory division in areas worst-hit by the market slowdown.
Meanwhile, the property website also reported that Colliers was “reviewing options” for its UK staff in a bid to “protect the business in the long term”.
Tony Horrell, chief executive of Colliers’ UK and Ireland division, told Property Week the short-term actions were “necessary”.
He said: “[It] will allow us to continue to be efficient, whilst providing us with the fortitude our business needs to continue to deliver high standards of client service across all our business lines.
“Our priority, as always, is the health and wellbeing of our people, clients and communities.”