Davis Langdon leads fresh round of job cuts

DL said it was in consultation to cut up to 150 jobs after further deterioration in market conditions.

Gardiner & Theobald is understood to have entered a second consultation with a view to making cuts. Senior partner Tony Burton said all staff had been told that their jobs were secure for the next 90 days.

Gleeds said it had made about 90 redundancies over the past six months and was reviewing the situation on a week by week basis.

Rob Smith, DL’s senior partner, said: “Unfortunately, we have started another round of redundancies. All our peer group is doing the same. We are doing everything we can to secure as much work as we can but at this juncture we had to make a move.”

If all 150 jobs go, this will take the firm’s redundancy tally to 240, 13% of its workforce in 2008.

A letter was sent to staff whose jobs may be affected on Tuesday. More than 150 have been put on notice to comply with redundancy laws that require all jobs in an affected pay grade to be put in an “at risk” pool.

We have started another round of redundancies. All our peer group is doing the same

Rob Smith, Davis Langdon

Some firms are also thought to be considering reducing salaries to cope with aggressive fee cuts. Smith said DL had not done this yet but did not rule it out.

Meanwhile, housebuilders will be forced to make further redundancies in 2009, leading industry figures have warned.

Persimmon is understood to be planning about 100 and Bellway was also reported to be making cuts. More than 10,000 jobs were cut in the sector last year.

Robin Hardy, an analyst at KBC Peel Hunt said: “Housebuilders cut about 40% of jobs last year but half that number could be cut again in 2009.”