Quabit, Idealista, Servihabitat…the First Redundancies Hit the Real Estate Sector

4 May 2020 – Brainsre.news

Real estate companies have made the first adjustments to their workforces due to coronavirus. Firms such as Quabit, Servihabitat and construction companies have raised ERTEs.

The coronavirus pandemic has begun to cause real estate companies to make adjustments. With the biggest drop in GDP in the historical series, an unemployment level of 14.4% in the first quarter alone, and some rather dismal economic forecasts for this year, companies in the sector have begun to raise employment regulation files for their workforces.

Such is the case of Quabit. The property developer led by Félix Abánades is finalising the presentation of a temporary employment regulation file (ERTE) that will affect 66% of its workforce, according to reports from Brainsre.news last Thursday.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake