After confirming that some 300+ employees were made redundant over the weekend and that it has closed a significant number of branches across its group branch network, Spicerhaart CEO Paul Smith has revealed why the cull had to take place and asked for understanding.
In a statement released a few minutes ago, he says details of the government’s plans to offer help to businesses affected by Coronavirus came too late for Spicerhaart, which he says is facing a 90% reduction in property sales income.
Smith says although he is ‘very sorry’ for the redundancies, he says many other estate agencies are facing the same challenges and may follow suit. This is his statement.
“As a result of the coronavirus outbreak, we have had to take the very difficult decision to lay off some of our staff.