Real estate companies head towards job cuts
Realtors are reducing their staff as debts loading and sales decline while there is no remarkable improvement observed on fresh projects for the past one year.
The heat is mainly on the marketing and sales teams of several real estate firms and their situation is pathetic. Since the number of new projects has reduced due to delayed approvals and lesser funds, trimming of workforce helps some developers to reduce the firm’s expenses. Some developers are outsourcing such services instead of hiring.
This employees lay off is not limited to smaller players as several big realty players are also following the same.
According to sources, some of the leading realty companies have also followed the trend though they do not seem to acknowledge it. Only some industry experts have conceded that they have been cutting short the staff. Sources insist the trend has only just begun.
To read more real estate news:
DLF heads back towards home market
Residents angry as plots turn into garbage dumps
Source: DNA
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