Miami-based developer Reisa laid off 25% of its workforce, according to its Brazilian parent company, MRV & Co.'s annual report.
The company let go of around 100 employees to adjust to new macroeconomic conditions.
President and CEO of Reisa, Ernesto Lopes, told Multifamily Drive that the layoffs occurred in the company's development, design, and construction teams.
- He added that the company adapted its workforce to reflect the revised number of units it will deliver this year.
- The workforce housing developer will deliver more than 4,000 new residential units between 2023 and 2024 in Florida, Texas, and Georgia.
