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Investing.com -- Foxtons Group Plc ORD (LON:FOXT) shares fell as much as 5% on Wednesday after a Bloomberg News investigation detailed allegations of “sexual harassment, antisemitism, racism, and bullying."
The London-based real estate firm saw its stock drop the most since August during early trading before trimming losses to trade 1.55% lower as of 10:48 GMT.
The decline placed Foxtons among the worst performers in the FTSE All Share Index, where it ranked ninth from the bottom. The index rose 0.7% on the day.
Shares of other listed real estate brokers, including Savills (LON:SVS) Plc and LSL Property Services Plc (LON:LSL), remained flat or moved higher.
Bloomberg’s report, published late Tuesday, included claims from junior employees who said they experienced unwanted touching and other forms of harassment at Foxtons.
Per the report, several current and former employees told Bloomberg they had experienced sexual harassment or racial abuse at Foxtons, and that drink-driving was “commonplace” within the company.
When they reported issues to managers or HR, they claimed their concerns were dismissed or described as “unexceptional.”
One former employee said he called CEO Gittins to report racial abuse from a colleague, but Gittins responded that he did not believe the person in question would have used the alleged term.
Some employees said they were effectively penalized after filing complaints or rejecting advances, receiving fewer “hot leads” — potential clients looking to buy, rent, or sell — in the weeks that followed.
Most said they chose not to report further incidents because they “did not believe that any action would be taken.”
Bloomberg’s report is based on interviews with over 20 current and former Foxtons employees, along with legal and employment records, emails, screenshots, and other supporting documents.
The employees, who worked at Foxtons between 2020 and 2025, requested anonymity due to concerns about potential retaliation from the company or individuals associated with it, Bloomberg said.
The majority of those interviewed were employed at Foxtons after Gittins took over as Chief Executive Officer in September 2022.
“Any matters of sexual harassment or misconduct are taken extremely seriously, thoroughly investigated and in no way tolerated at Foxtons,” a company spokesperson said in an emailed statement. “We don’t recognize allegations that colleagues escalating issues are not taken seriously,” they added.
In a separate statement to the Times, Foxtons said it requires staff to complete mandatory training on harassment, workplace conduct, and its confidential whistleblowing systems.