Real estate layoffs are, unfortunately, not limited to the major corporations. The Agency is the latest brokerage to institute layoffs with word coming down that The Agency laid off 4 percent of its work force, or fewer than 15 of its staff members.
“Due to the challenges presented by the current economic climate, we made the difficult decision to reduce less than 15 members of The Agency’s staff this week. We are not immune to the economic environment that all companies, especially real estate companies are facing right now,” Mauricio Umansky, the CEO of The Agency, wrote in a statement.
“We would like to express our deepest gratitude for the contributions of all our employees,” Umansky continued. “While this decision was not made lightly, we believe this positions us for future success. The Agency continues to make efforts to be fiscally responsible and is fundamentally committed to profitability and long-term, sustainable growth.”
RealTrends reports that this appears to be the firm’s third round of layoffs in the last six months.