Industry News

GMAC announces layoffs, office closures

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GMAC Real Estate said in a statement that it will eliminate about 50 support staff and management positions and reassign about 150 sales associates in closing 15 company-owned offices in New Hampshire and Massachusetts. Company officials did not respond to questions Monday about its plans for operations in other states. The terminations and office closures are "an effort to increase efficiencies, better deploy resources and enhance its customer service," according to the company statement. The regional consolidation will leave 35 GMAC Real Estate offices in the region. The company reported Monday that it has 85 company-owned offices nationwide. GMAC also operates a franchise network that has about 1,200 franchise offices. The employees losing their jobs in the consolidation will be offered severance packages and other support the company reported. "During this transition, GMAC Real Estate is dedicated to ensuring that its sales associates will continue to provide uninterrupted customer...