R&R reduces staff
Six R&R Realty Group employees were laid off yesterday, due to a decrease in business activity, said Paul Rupprecht, president of the company’s Realty Marketing Group division.
“Yes, we did have a small workforce reduction due to the changing marketplace,” Rupprecht confirmed, adding that the six individuals were provided with a severance package.
Rupprecht said the cuts, reducing R&R’s work force from 115 to 109, were not geared toward any particular subsidiary of the company’s construction management, brokerage, development, acquisitions, property management or technology services divisions, but encompassed them all.
“It’s no secret the economy continues to struggle,” Rupprecht said, adding that despite the layoffs, the company is “certainly well positioned for the future.”
R&R, one of the largest real estate development and property management firms in the state, is at least the second commercial real estate company in recent months to slash jobs due to the struggling economy. In December, Terrus Real Estate Group reduced its staff by 17 percent.
“You see it every day,” Rupprecht said.