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Brookfield Asset Management has terminated its real estate listings contract with Cushman & Wakefield in the United States as part of cost-saving measures, according to a report by Bloomberg. This decision follows Brookfield’s withdrawal from a deal to relocate its office space in Manhattan.

Cushman & Wakefield is currently implementing workforce reductions and exploring property lease rationalizations in order to achieve approximately $130 million in savings this year. While the brokerage firm expressed pride in their work and the value they added to Brookfield’s portfolio, no comments were provided by Brookfield regarding this change.

The article “Brookfield Fires C&W From Handling Major US Office Listings” was originally published on Connect CRE.