Tuesday, February 14, 2006

Cendant to cut Coldwell Banker, Sotheby's & Century 21 offices

The CEO of Cendant Corp announced today that in an effort to recoup lossed revenue from a decline in their corporate real estate transactions, they were planning on closing some of its real estate brokerages' offices they own including Coldwell Banker, Sotheby's and Century 21. Especially at risk are those offices in the California, Florida and New England market centers.

$50 million is the projected cut, although they did not announce where those offices that were to be cut are located.

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