Nashville Fifth + Broad developer laying off staff
NASHVILLE, Tenn. (Mike Osborne) -- The company developing the huge Fifth + Broadway mixed use complex looming over Nashville’s honky-tonk district announced recently that it will lay off 20 percent of its workforce.
CNBC quotes Brookfield Properties CEO Jared Chupaila saying the company will lay off staff “to align with the future scale of our portfolio.”
The company recently opened the 34 story apartment tower called “The Place.” It’s part of a larger $450 million project that will include restaurants, retail stores, office space and entertainment venues.
Brookfield blamed the cuts on the pandemic in a memo to employees obtained by CNBC.