Layoffs and furloughs hit NYC’s biggest resi firms

New York’s largest residential brokerages have laid off or furloughed a significant chunk of their employees, The Real Deal has learned, as the firms and their thousands of agents grapple with a near-total market shutdown. Douglas Elliman, the city’s largest residential firm with nearly 2,500 agents, laid off approximately 100 people on Friday, sources said. The Corcoran Group, the city’s second-largest firm with just under 1,700 agents, cut 50 percent of assistant pay and enacted

source https://therealdeal.com/2020/04/03/layoffs-and-furloughs-hit-nycs-biggest-resi-firms/