Statement on impacts of global economic downturn
Statement on impacts of global economic downturn31 Mar 2020
The global economic downturn resulting from the COVID-19 (coronavirus) outbreak impacts us all. As we navigate this unprecedented time, we are committed to continuing to serve our clients and care for our people. To operate efficiently, we have responded with strict cost containment measures, including cancelling events, suspending travel and other actions. Today, we shared with the entire Avison Young family that we are introducing temporary pay cuts for salaried employees making above a certain threshold to protect jobs and minimize layoffs or furloughs. The highest percentage cuts are being taken by the firm’s entire executive team. Our staff have responded admirably and graciously, and we are confident that we will emerge from this challenging time stronger together. Our long-term goal, as ever, remains: to take care of our people, clients and communities.