Hiring Freeze in NYC?

Hearing that some of the big shops in NYC (CBRE/JLL/Cushman, etc.) have been on a hiring freeze since Covid last spring. Does anyone have any insights on this and if this is still going on?

 

I doubt they are still on the full hiring freezes they put in place back at start of COVID (when they also did layoffs). I just searched CBRE, many NYC openings, so not a freeze there. 

That said, transactions are down big time in NYC (and elsewhere), so I doubt brokerage teams are going to try and "staff up" until they get more deal flow to justify. There are reports of a lot of renewed activity last few months, so maybe that situation is upon us. 

 

JLL and C&W have each posted openings for analysts/associates in NYC since the new year has started. A JLL MD actually even posted it on his personal LinkedIn account. So definitely not at a full on freeze. Economy/hiring is still slow - the Q1 number for NYC deal flow was pretty lackluster and until that picks up, no one in brokerage is going to want to add to their overhead.

 

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