Post by
NPCexe on Sep 22, 2020 11:35am
BPY laying off 20% of workforce
KEY POINTS Brookfield Properties is going through a major round of job cuts, CNBC has learned. The mall owner is slashing jobs to align with the future scale of our portfolio, Jared Chupaila, the CEO of Brookfield Properties retail group, said this week in an email to employees. The cuts are going to affect roughly 20% of the companys workforce, across both its corporate headquarters and leasing agents on the field. Brookfield Properties retail division employees about 2,000 people
Comment by
argon12 on Sep 22, 2020 12:02pm
It's about time. Unless there is a 90% sale off on a great property to purchase they should be just hoarding cash and focus on getting back unpaid rent. THAt'S IT! Maybe the lay-off should be closer to 60%.
Comment by
NPCexe on Sep 22, 2020 2:51pm
60% probably not warranted at this point.. maybe the retail side was recovering... but with this talk of shutdowns again... maybe they will get to 60