In wake of Pacific Park restructuring, Forest City lays off 20 people in Brooklyn (third round of layoffs)

The departure of CEO MaryAnne Gilmartin and some key aides does not represent the only departures from Forest City New York's office. The downsizing continues, with a layoff of some 20 staffers, which signals continued belt-tightening and a diminishment of corporate capacity.

That represents, by my count, the third round of layoffs. The Real Deal reported 7/29/16, "FCR now has about 110 full-time employees, 23 fewer than it did last year, the company said."

On 7/23/17, I reported that Forest City New York laid off about 15 people--a figure neither confirmed nor denied by the company. The loss of 20 more people, plus the five executives leaving, would bring the count below 70.

Today, after being told of the layoffs by a source, I queried the corporate headquarters and got the following confirmation from Forest City Realty Trust Senior VP Jeff Linton:

Approximately 20 people in the Brooklyn office were notified that their positions are being eliminated. Some are effective at the end of this week, others at later dates as work is completed or transitioned to others. All of them will receive severance and benefits continuation commensurate with their years of service, as well as career counseling and outplacement services. I will decline to comment on go-forward staffing levels except to say that the Brooklyn office is still our second-largest concentration of associates after our Cleveland headquarters. I’ll also point out that we have approximately 300 associates working at our properties across the broader tri-state area. Since it would be a logical follow-up question, I will also add that we employ a total of about 1,500 associates across the company.