Hammerson reportedly prepares to axe jobs

British property and investment company Hammerson could reportedly axe hundreds of jobs to cut costs.

All 250 employees working at its head office in London’s King’s Cross and at its office in Reading have been placed in a consultation exercise, The Times reports.

Up to 40 roles across a number of other functions are also understood to be at risk.

The company has been hit hard over the past 18 months with the pandemic causing its properties to shut globally.

In the six months to June 30, the company had a net debt of 1.9 billion pounds.

The Times also reported that Hammerson’s UK and Ireland managing director Mark Bourgeois is stepping down from the business.

His responsibilities will be split between Harry Badham and Grégoire Peureux, who both joined the company over the past year.