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Colliers is adapting to new reality

UK

Downtrending turnover levels and uncertainty about the duration of the coronacrisis have caused Colliers to adjust its Danish business. 

Colliers carried out six layoffs this morning. 

“The coronacrisis has in no time turned our business upside down. We entered 2020 feeling highly confident, armed with a clear-cut strategy and a very strong pipeline. However, the property market has experienced sudden and dramatic changes, making it necessary for us to act now”, says CEO Peter Winther, adding,

“The market will bounce back, but nobody knows how long this will last, and either way we will close the books on 2020 with a much poorer result than we had anticipated”, says Peter Winther.

In addition to the six layoffs, all new recruitment activity is halted. Similarly, some vacant positions due to voluntary resignation will not be filled.

Peter Winther is not unfazed by the situation.

“There was nothing I would rather have done than avoid layoffs. We have left no stone unturned to find alternative solutions. I’m afraid it was not possible, and as a responsible leader I cannot simply turn a blind eye; On the contrary, I choose to show constant care. It is too risky to put off a response, and I owe it to both our staff and our owners to protect the business”, explains Peter Winther.

Colliers in Denmark will have 130 employees when the adjustments have been made.

Peter Winther has on a previous occasion claimed that the property market will bounce back, and he continues to believe this to be true.

“I’m confident that the property market will recover. We are going to see a gradual normalisation process after the summer holidays, and in the course of 2021, we will have returned to the activity level preceding the coronacrisis. Although our staff count has diminished, we still have strong skills in every business area. We continue to be market leader in Denmark, and we intend to maintain this position”, concludes Peter Winther. 


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Peter Winther

Executive Director | Partner | MRICS

Copenhagen

Peter is Executive Director and heads Colliers’ Danish Investment & Capital Markets teams. Peter provides strategic property consultancy services and facilitates the sale of commercial and investment properties, including hotels and shopping centres, as well as property portfolios and companies.

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