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One of the largest mall owners starts layoffs



Brookfield Properties, one of the largest mall operators in the U.S., reduces 20% of its retail staff.
Natick Mall

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.

More about shopping malls in the USA



YESTERDAY, India:
The vast mall's construction will cost $760 million, and the project is expected to be completed in seven years.
YESTERDAY, United Kingdom:
The brand plans to close 95 stores nationwide while paying reduced rent for the remainder of the term.
DAY BEFORE YESTERDAY, USA:
Old Spice Barber Shop will also serve as a brand store, digital content studio, and experience lab for new product developments.
DAY BEFORE YESTERDAY, USA:
The company managed to retain its place as the largest retailer in the U.S., with Amazon in second place.
Feb 19, 2021, USA:
U.S. real estate owner Tanger Factory says all of its owned malls are back to pre-pandemic levels.
Feb 19, 2021, USA:
The company intends to expand its streaming capabilities and go global.
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