Douglas Elliman tried to get into fighting shape last quarter, trimming $20 million in costs through layoffs, furloughs and salary cuts. Still, it wasn’t enough to avoid a beating: the residential brokerage, New York’s largest, reported a net loss of $5 million for the quarter. During the same period last year, Elliman, a subsidiary of Vector Group, reported net income of $15.1 million. Year-over-year, revenues have also plummeted, dropping 45 percent to $132.9 million from
source https://therealdeal.com/2020/08/06/douglas-ellimans-new-york-revenues-fall-by-half/
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