Brookfield Properties, one of the nation’s largest mall operators, is cutting 20% of its work force in its retail division, as the pandemic has accelerated online shopping and resulted in a string of store closings.
The Chicago-based mall, which operates 170 mall properties, has more than 2,000 employees in its retail division, according to the company.
The news came as luxury fashion firm Ralph Lauren Corp. said that it was cutting 15% of its work force by the end of its fiscal year, which ends in March. The layoffs come as it accelerates its online operations and tries to become more nimble. The New York-based company estimated that it will incur total pretax charges of about $120 million to $160 million.
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Brookfield and Ralph Lauren join a growing list of retailers and mall operators that have cut staff in recent months as the pandemic forced the temporary closure of non-essential …