JLL lays off 50 staff in Russia and CIS

Global property advisor Jones Lang LaSalle (JLL) is laying off 50 staff across the Russia & CIS region. In a statement on Thursday, the company said that the layoffs affect mainly junior and support positions and form part of a wider strategic cost-reduction exercise in view of the current economic outlook.

'This has been a difficult decision but one that allows us to position ourselves for the challenges ahead, whilst maintaining our market leading position and continuing to provide our clients with the highest level of service,' said Mark Jagger, managing director, Jones Lang LaSalle, Russia & CIS.

Jones Lang LaSalle Russia & CIS has offices in Moscow, St. Petersburg, Kiev and Almaty.

Meanwhile, Cushman & Wakefield Stiles & Riabokobylko, the Russian office of Cushman & Wakefield, said it was looking to expand its service lines. 'Our company, as others in the real estate sector, is closely monitoring all our expenses and making amendments to our budget for 2009.'

'However, our development strategy during the crisis is not only in optimising our business, but also looking at new opportunities, including expanding our service lines.'