June 15, 2020

In March, facing unprecedented uncertainty, Colliers Project Leaders adopted several cost containment measures to protect our employees and business, including reduced expenses, discretionary spending, and executive compensation. Unfortunately, these steps were not enough, revenue declined, and the prospect of broad layoffs loomed. We were not able to apply for wage subsidies, as our company was not eligible for public funding.

We implemented an initiative that encouraged all employees to record one day of vacation a week during the months of April and May. This enabled us to redistribute the limited work we had among a larger group of employees and retain as many staff as possible during these two months. The initiative – which was always intended to be a collective, voluntary effort to preserve jobs – concluded on May 31.

Despite this initiative being implemented with the best of intentions, we understand that some employees felt pressured to participate and worked during their time-off. That is not what was intended. We respect our employees’ well-deserved time off and have reinstated all vacation time for those who worked during their time off in April or May.

Overall, the combination of these cost containment measures was largely effective. We have almost the same number of employees today as we had at the end of March.

The circumstances of these past few months have been exceptional. We apologize to our staff for how the initiative was initially communicated and we remain incredibly grateful for the support our employees have shown one another during these challenging times.

Sincerely,
Franklin Holtforster, President & CEO, Colliers Project Leaders

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