London’s Foxtons Cuts Jobs, Asks Sales Agents to Move Department

Foxtons Group Plc, one of London’s biggest real estate agencies, is cutting jobs in its sales division and asking some brokers to move to its lettings business after a slump in deals.

Foxtons started a redundancy process earlier this year that’s set to impact about 30 jobs within its sales business, according to people familiar with the matter and correspondence seen by Bloomberg News. The job cuts, which account for about 2% of the roughly 1,500-strong workforce, are part of a move to reposition the sales business and reduce headcount to reflect weaker demand, according to the people, who declined to be identified discussing private matters.