''These cutbacks will be focusing on the type of back office operations and some of the regional, non-production type of jobs that really don't affect a local office like ours," McKenna adds. "I do not see any impact on the Denver office.''
0On the other hand, ''We're not a hiring mode right now,'' McKenna says. ''We're not in a firing mode either. We're just going to do business as usual with the resources we have. Nobody here is setting off any panic alarms. We feel we have a good year, but it probably won't be as strong as last year."
The Denver office has 44 brokers, he says. Revenues are down from last year, he adds.
''We're down from last year, but not substantially down,'' McKenna says. ''We're pretty close to our original business plan, which we projected to be down from last year. But last year was a banner year for commercial real estate firms. To some extent, we followed the national and international economies.''
On the other hand, brokerage firms such as CB Richard Ellis can do well as the economy softens, too, he says, which is often an overlooked benefit. ''One of the benefits of our business is that we can help some of our clients who are deciding to downsize,'' McKenna tells GlobeSt.com. ''We have the opportunity to sublease their extra space as well as helping them to expand in good times.''
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