Brookfield Properties news and archive

Brookfield Properties laying off 20 percent of retail workforce

It's no secret that malls took one of the worst hits over the coronavirus pandemic. Which means, a serious dent in mall owner Brookfield Properties revenue. As a result, the company will now be laying off 20 percent of their retail unit workforce. The news was reported by CNBC. Brookfield's retail arm currently has over 2000 employees. Employees...

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U.S. mall owner Brookfield Properties to cut 20 percent off its retail staff

One of the largest U.S. mall owners, Brookfield Property Partners LP, is expected to cut its workforce by 20 percent as shopping malls and retailers across America continue to be negatively impacted by Covid-19. The company sent a memo to its staff on Monday, confirming 20 percent of the company’s retail arm would be let go. According the...