It’s not been the happiest of new years for some Compass employees as the brokerage has implemented its third round of layoffs in eight months.
CEO Robert Reffkin sent an email to staff Thursday confirming the staff cuts, though an exact figure of how many positions were eliminated was not given.
Last Summer, Compass laid off some 450 employees, followed by another round of cuts in September. At that time Bloomberg estimated half of the staff had been let go since Fall of 2021.
The Real Deal is also reporting that the brokerage is looking to sublease part, if not all, of its New York headquarters. Compass occupies 89,000 square feet at RFR Realty’s 90 Fifth Avenue, with a lease runs through 2025.