Insights for 9-24-20

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"While many companies were quick to implement furloughs and layoffs at the onset of the pandemic, we made the conscious decision to keep all our team employed while we gained a better understanding of its longer-term impact on our company."

Jared Chupaila, chief executive of mall operator Brookfield Properties’ retail group, writing this week in an email to employees, as reported by CNBC in its story, "Brookfield Properties’ retail arm is laying off 20% of its workforce, as pandemic hits malls." Chupaila also noted that Brookfield has now decided to trim its workforce “to align with the future scale of our portfolio.”