Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property Industry Eye. Read the original article for full details.

Knight Frank Begins Redundancy Consultation for UK Workforce

Knight Frank has launched a redundancy consultation process affecting part of its UK workforce, despite reporting an increase in revenues over the past year. The agency has confirmed that a number of its UK employees are impacted, but has not disclosed how many roles are under review or which parts of the business are affected.

The move follows Knight Frank's report of UK revenue of £405.1 million for the year to March 2025, which is a 6.3% increase on the previous year. However, turnover remains below the levels seen during the post-pandemic market surge, when UK revenue reached £418.5 million in FY2022 and £409.5 million in FY2023.

The consultation reflects ongoing pressures in the property sector, as businesses adapt to a market with lower transaction volumes, economic uncertainty, and changing client requirements. While there have been signs of improved activity in recent months, many firms are focusing on controlling costs and protecting margins.

Knight Frank has not commented on the reasons behind the consultation or provided details about the specific teams involved. A spokesperson for Knight Frank told Property Industry Eye that the redundancy consultation process involves less than 3% of its UK workforce, and that it would be inappropriate to comment further while the process is ongoing.

This development comes amid mixed trading conditions across the residential and commercial property markets, with firms balancing investment in growth areas against the need to maintain profitability in a challenging environment.