Cushman hit with round of layoffs

About 40 NYC staffers let go in marketing, research departments

New York /
Oct.October 30, 2015 01:00 PM

Cushman & Wakefield went through a round of layoffs Wednesday that hit the marketing and research departments in what appears to be fallout from the merger with Chicago-based DTZ earlier this year, according to multiple sources.




Behind the story:

Cushman & Wakefield

The cuts were national in scope, with as many as 250 employees affected across the country. Here in New York City, about 40 positions were cut, sources familiar with the matter said.

A spokesperson for Cushman told The Real Deal that the job cuts represented a small fraction of the combined firms’ workforces.

“As part of our integration efforts, a very small number of staff positions were eliminated where there were areas of overlapping responsibilities,” the spokesperson said in a statement. “We’re committed to building a healthy, sustainable business poised for long-term growth.”

The employees let go supported brokers by putting together sales materials and presentations for clients, and pulled data for deal analyses and market reports.

Through a series of mergers and acquisitions over the past year, Cushman’s ranks have swelled to 43,000 employees in 250 office across 60 countries.

It started last year when DTZ acquired the firm Cassidy Turley, followed by Cushman’s purchase of Massey Knakal Realty Services for $100 million.

DTZ then bought Cushman for $2 billion, in a deal that was finalized in September. A number of top New York-based Cushman investment sales professionals, such as Helen Hwang, Michael Rotchford and Nat Rockett, have since left the firm.


Related Articles

arrow_forward_ios
From left: Letitia James, Donald Trump and Brett White (Photo Illustration by Steven Dilakian for The Real Deal with Getty Images)
Cushman delivers 36K documents to AG in Trump probe
Cushman delivers 36K documents to AG in Trump probe
A photo illustration of 450 Park Avenue (left) and 8 Spruce Street (right) (Douglas Elliman, Reading Tom, CC BY 2.0 - via Wikimedia Commons, Getty Images)
CRE investment sales hit $21B in first half of 2022: report
CRE investment sales hit $21B in first half of 2022: report
Mitti Liebersohn and Arthur Mirante
Mirante, Liebersohn jump to Savills from Avison Young
Mirante, Liebersohn jump to Savills from Avison Young
From left: Letitia James, C&W's Brett White, and Donald Trump
Cushman & Wakefield squirms out of Trump sanctions
Cushman & Wakefield squirms out of Trump sanctions
From left: Cushman & Wakefield executive chairman Brett White; Donald Trump (Getty Images, Cushman & Wakefield, iStock)
Cushman held in contempt in Trump property probe
Cushman held in contempt in Trump property probe
From left: Cushman & Wakefield chairman Brett White and Newmark CEO Barry Gosin (Cushman & Wakefield, Newmark, iStock)
Rumors fly regarding Cushman-Newmark merger: report
Rumors fly regarding Cushman-Newmark merger: report
1290 Sixth Avenue and Cushman & Wakefield's Toby Dodd (Google Maps, Cushman & Wakefield, iStock)
Cushman & Wakefield on the hunt for new NYC office
Cushman & Wakefield on the hunt for new NYC office
(photos by Joe Lovinger/The Real Deal)
Day 2 of ICSC: Retailers button up to network, prep for uncertain future
Day 2 of ICSC: Retailers button up to network, prep for uncertain future
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...