RICS to Make up to 170 Roles Redundant Globally 

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24 September 2020

In a statement from RICS’ CEO, it has been confirmed that a formal consultation process will begin at the institute, placing 150 – 170 roles at risk of redundancy.

Sean Tompkins, CEO at RICS, said that he briefed their employees “with a heavy heart” and that after careful consideration RICS have had to come to terms with the fact that they will be unable to retain the same number of colleagues within their new “sustainable operating model”.

He said: “This has been the toughest call of all since the pandemic began. RICS’ people are dedicated, creative, and passionate about the work they do and I feel proud and privileged to work alongside them. 

“Witnessing their extraordinary resilience and adaptability during this crisis has been inspiring and it has contributed so much to our ability to respond to one of our most difficult moments. I am truly sorry for the uncertainty that this news will bring for them, through no fault of their own, and I promise to support them throughout this process.”

In July, RICS announced the permanent closure of all of their UK offices, excluding those in London, Birmingham and Edinburgh.

“This has been the toughest call of all since the pandemic began. RICS’ people are dedicated, creative, and passionate about the work they do and I feel proud and privileged to work alongside them. Witnessing their extraordinary resilience and adaptability during this crisis has been inspiring and it has contributed so much to our ability to respond to one of our most difficult moments. I am truly sorry for the uncertainty that this news will bring for them, through no fault of their own, and I promise to support them throughout this process.”

–Sean Tompkins

CEO, RICS

Part of Several Measures to Combat the Effects of COVID-19

RICS took several firefighting measures throughout the pandemic, including the closure of several UK offices, putting 30 per cent of UK colleagues on furlough, freezing all new people hires and pay, and temporary pay cuts. 

However, Tomkins confirmed that in light of the effects of COVID-19, RICS expects their overall revenues (of which about a third are from commercial activity) to continue to be much lower than in previous years.

The organisation is also to continue to review its global office footprint to support its new ways of working.

Picture: a photograph of a modern city building

Article written by Ella Tansley | Published 24 September 2020

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