Rightmove cuts staff as property slump hits home

LONDON - Property search website Rightmove is to make 20% of its staff redundant in a restructure aimed at improving its core UK property advertising business.

Rightmove said that due to the housing market slump, it will increase its consumer marketing spend by up to £1m and support estate agents who are doing more online business.

The site is planning to reorganise the existing estate-agency sales force and customer service teams into regional teams.

It will also stop direct selling of banner advertising on the Aboutmyplace mapping website, as it claims there is too much general banner advertising.

The result will be a reduction in headcount of about a fifth, with a cut in the cost base for 2009 of about £5m.

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