Knight Frank has initiated a redundancy consultation affecting less than 3% of its UK workforce, despite posting a 6.3% increase in annual revenues.
The agency confirmed the consultation is underway but declined to specify which departments or how many roles are under review. A spokesperson stated: “We can confirm we have started a redundancy consultation process with less than 3% of our UK workforce. As this is ongoing it would be inappropriate to comment further.”
Financial performance
The consultation follows Knight Frank’s report of UK revenue reaching £405.1m for the year to March 2025, up from the previous year. However, this figure remains below the post-pandemic peak of £418.5m achieved in FY2022 and £409.5m in FY2023.
The restructuring reflects broader pressures across the property sector as firms adjust to lower transaction volumes and economic uncertainty. Recent challenges facing property businesses have prompted many agencies to focus on cost control and margin protection.
Market context
The move comes during a period of mixed trading conditions across residential and commercial property markets. While recent months have shown signs of improved activity, firms continue to balance investment in growth areas against profitability pressures in a more challenging operating environment.
Transaction volumes remain below levels seen during the post-pandemic market surge, with agencies navigating changing client requirements and economic headwinds. The property sector has seen shifting patterns in market activity across different regions.
Knight Frank has not provided a timeline for the consultation process or indicated when final decisions on redundancies will be made.
