DTZ consults over further job cuts

Consultation has started over a further round of job cuts at DTZ's offices, including Manchester, where it employs 200 staff.

A spokesman for DTZ said today: "We are targeting a number of roles for redundancy and are in consultation to determine the extent to which people in these posts can be redeployed to growth areas, minimising the need for redundancies.

"We continue to recruit to growth areas such as corporate recovery and investment management."

Around ten staff across the three North of England offices in Leeds, Newcastle and Manchester are expected to leave.

Speculation over the likelihood of cuts at DTZ has centred on the swelling in numbers that came from its takeover of Donaldsons in July 2007.

Only one out of 50 staff made redundant by DTZ across the UK in June was from the Manchester office. In July, the listed company announced an 87% fall in profits.

Shares in DTZ were unchanged at 135p this morning, valuing the company at £80m.