Avison Young job cuts as company loses over £100m in pre-tax losses

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The UK arm of global commercial real estate services powerhouse Avison Young experienced a considerable downturn, with its pre-tax loss for 2023 almost doubling to eclipse £100m.

Based in Birmingham, the firm saw its losses deepen to £101.8m in 2023 from £55.6m the previous year, according to newly-released accounts at Companies House, as reported by City AM.

During the same period, Avison Young's UK team shrank, with employee numbers dropping from 1,743 to 1,519.

Despite a challenging environment, the company reported annual revenues of £211m, a modest decrease from 2022's figures of £211.8m.

Consultancy services revenue witnessed a decline from £104.3m to £96.3m over the course of the year.

Transactional revenues similarly took a dive, falling from £43.1m to £34.6m, though a surge in property management earnings from

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