CBRE Group will permanently close its office in White Plains, laying off 35 employees, according to a notice recently filed with the state Department of Labor.
A CBRE spokesperson told The Real Deal that the office at 70 West Red Oak Lane in Westchester County mainly houses valuations staff, and the operation will be consolidated into the firm’s Stamford, Connecticut office. The White Plains space will close in February.
CBRE, the largest commercial real estate services and investment firm in the world, , experienced a nearly 10 percent income decline during the third quarter as the pandemic forced large office tenants to put their leasing decisions on hold.
CBRE executives said during the third-quarter earnings call that the company mitigated the impact of the pandemic with revenues from property management and cost reductions, including through cuts to its more than 100,000-person workforce.
The company laid off 47 employees at its New York City office between May and September, “due to a change in business priorities,” according to previous notices filed with the state.