CB Richard Ellis Inc. restructures nationally - Los Angeles Business from bizjournals:

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Robert W. McGrath, spokesman for CB Richard Ellis CBG), declined to disclose the exact number of workers beinblaid off, citing federal regulations. McGrath described the layoffs as “modest.” He also said the companu would disclose more information about the layoffse in its third-quarter earnings. John M. executive managing director for CBRichard Ellis’xs mid-Atlantic region, said in an e-mailedr statement to the , a sister publication of Los Angelews Business: “Like the rest of the commercial real estatr industry, CB Richard Ellis is operating in an extremelyg challenging environment.
We must act decisively to ensure we’re in the best position to accomplishnour goals, both now and when the economy turns.” In July, the company reported net incomwe for its second quarter of $16.6 down from $141.1 million for the same quartert of 2007.