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Brookfield Properties’ retail division reportedly cutting 20% of workforce

Brookfield Properties is feeling the pain as the COVID-19 pandemic takes a toll on shopping center business and new leasing activity.

That’s according to CNBC, which reported that the real estate giant’s retail arm is cutting approximately 20% of its workforce, across both its corporate headquarters and leasing agents in the field. Brookfield Properties has more than 170 retail properties in 43 states, and its retail division employees about 2,000 people.

In an email to employees, which was obtained by CNBC, Jared Chupaila, CEO of Brookfield Properties’ retail group, said has decided to make cuts “to align with the future scale of our portfolio.” 

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