Property Grunt

Monday, December 01, 2008

Real Estate Chatter: Christmas Party Cancellations and layoffs

There has been some chatter regarding a very well known real estate brokerage that is undergoing some severe cost cutting measures for the holidays and beyond.

1. This company is not having a holiday party instead they are having holiday parties. Because of the cost of setting up their usual holiday bash and that it would be in bad taste to have their usual lavish gala, this company has decided that each of their offices is responsible for having their own holiday parties.

2. This firm has already laid off 15 people and if profits do not kick up next year they plan on laying off more people. It is unconfirmed if these are brokers or staff.

3. There is also talk within this company to cut the dead wood by initiating consolidation of certain offices.

Which company is this? The only hints I will provide is that their founder has a size 8 waist, has an unhealthy obsession with Redhook and left the company by riding off into the sunset. Literally.