(Adds details on restructuring, dividend, job cuts)
By Radhika Rukmangadhan
March 8 (Reuters) – Countrywide Plc, Britains largest estate agency, posted a 22.5 percent drop in full-year core earnings on Thursday and said it cut about a third of jobs at its head office in London as part of an ongoing restructuring of its main sales and lettings business.
Shares in Countrywide slumped as much as 24 percent to a record low after the company scrapped dividend for 2017.
The company lost market share to other traditional competitors after it made organisational changes at a time when the property services industry was suffering from a drop in demand stemming from higher property taxes and the countrys vote to leave the European Union.
Executive…
Read the full article at: https://www.reuters.com/article/countrywide-results/update-1-countrywide-to-restructure-sales-lettings-business-scraps-dividend-idUSL4N1QQ342