LSL restructure to hit 30 job roles

Around 30 people will lose their jobs as a result of LSL’s switch to a fully franchised model, the brand has revealed.

LSL Property Services announced last week that its entire estate agency network would be franchised.

The company said its network of 183 branches will become franchises as part of a strategic review of its business that aims to simplify the group and reduce costs.

Following completion of these agreements, LSL will become one of the largest providers of estate agency franchise services in the UK, supplying services to a network of just over 300 branches.

Around 1,200 estate agency division colleagues will transfer to work within the franchisee network, LSL said, with branch-based personnel providing continuation of service to estate agency customers.

LSL has also confirmed to Estate Agent Today that more than 90% of roles will remain but there will be job losses.

An LSL spokesperson said: “Teams working in the branch network will transfer to the franchisees.  

“There will continue to be central teams providing support and services to franchisees, and we hope to create more opportunities as we identify new services and look to grow the network.

“As part of the restructure, there will be some functions with reduced headcount. Our priority is to speak to these people first, and where possible find alternative work within the group.

“At this stage, we think there may be around 30 redundancies in the near future.  We will continue to evaluate the services being provided to franchisees thereafter, but our expectation is that over 90% of estate agency colleagues will remain working at LSL or in the franchise network.”