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Cushman & Wakefield cutting St. Louis area jobs

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Updated at 5 p.m. with comment from spokesman Brad Dugard

One of the largest commercial real estate firms in St. Louis, Cushman & Wakefield, is paring its area workforce.

Company executives told employees Wednesday that human resources and accounting positions based in Maryland Heights would be handled by an outside firm, Accenture.

A company spokesman said Thursday morning that Cushman & Wakefield was not disclosing the number of affected employees.

Later Thursday, spokesman Brad Dugard said “certain functions” within the company’s finance and human resources departments had been identified for further review. No “direct employee impact” will happen until later this year, the spokesman said in an email.

In September, New York-based Cushman & Wakefield was acquired by Chicago-based DTZ for $2 billion. The merged companies, which kept the Cushman name, had 43,000 employees companywide and $5 billion in revenue as of Sept. 2.

At the time of the acquisition, DTZ’s largest operational hub was based in the St. Louis area, with more than 800 employees in seven offices.

“In today’s increasingly competitive business environment, companies must be efficient and agile,” Duncan Palmer, Cushman & Wakefield’s chief financial officer, said in the statement.

“This program is about introducing world-class financial processes and controls through technology-based services, enabling us to innovate and make highly informed business decisions on behalf of our clients around the globe.”

Cushman & Wakefield’s announcement follows recent news of a sizable layoff in St. Louis County. Earlier this month, Cincinnati-based retailer Macy’s said it would close this spring a call center in nearby Bridgeton that employs 750.

Tim Bryant of the Post-Dispatch contributed to this report

Lisa Brown • 314-340-8127

@lisabrownstl on Twitter

lbrown@post-dispatch.com

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