OnTheMarket Redundancies on the Horizon Despite TV Ad Spend

The British #3 portal OnTheMarket has revealed that it is looking at making a number of its staff redundant despite announcing broadly positive annual results in June. It is thought that regional sales staff are among those potentially affected by the measures. In a statement, acting CEO Clive Beattie said:

“Uncertainty remains and business practices have changed for the foreseeable future. Regrettably, we are therefore considering a small number of redundancies to ensure that we are best placed to support our agents for the long-term”

The pandemic discounts offered by UK property portals now seem to be starting to bite. Zoopla recently announced that it would be considering redundancies for some staff and looking to shut down some offices outside of London. As with the redundancies at Zoopla, it seems that those at OnTheMarket may be of the efficiency drive type rather than the desperate last-ditch ballast shifting type. Where Zoopla announced a recruitment drive in its tech department a couple of weeks after it announced its redundancies, OnTheMarket has had decent financial results recently and is to continue its TV advertising campaign to drive brand recognition and is not about to go to the wall.