Brookfield Properties, one of the largest mall operators in the U.S., reduces 20% of its retail staff.
The layoffs are the rapid development of online commerce, caused by the coronavirus pandemic, which has caused many stores to close. Today, the Chicago-based company operates 170 shopping centers, and its retail unit employs more than 2,000 people. About 400 of them will receive a notice of termination within the next couple of days.
"2020 has had a profound impact on all of us, both personally and professionally," wrote Jared Chupaila, CEO of Brookfield Properties retail group in a statement. He talked about the difficulties that affected the company's business and its partners, and as a result, many business agreements were revised.
According to Chupail, while other employees were firing at the very beginning of the pandemic, Brookfield Properties made a "conscious decision" to keep its entire team until the long-term impact of this decision on the company becomes clearer.
The news about Brookfield Properties came almost immediately after Ralph Lauren, a fashion company, announced its intention to cut 15% of its employees by the end of the fiscal year that ends in March. A little earlier, the chain of department stores Kohl's Corp. announced its intention to lay off 15% of its employees.