This workweek ended soon after it began for about five dozen employees of Bedrock, Dan Gilbert's 10-year-old development and real estate division.
Dan Gilbert earlier this month (Photo: CBS News)
Roughly 60 staff members learned during a short-notice online gathering today that they're laid off, according to Metro Times editor Lee DeVito.
[A] tipster says the Zoom meeting played a pre-recorded message telling the employees that their positions were being eliminated, and the employees were locked out of their company accounts and devices after the meeting.
A company spokesperson confirmed the layoffs in an email to Metro Times.
The weekly quotes the representative as messaging, in part:
"Today, Bedrock announced a restructuring that will position the company for continued growth and improved service in 2021 and well beyond. As a result, approximately 60 positions have been affected. ...
"Several team members have already accepted new positions with sister companies and we anticipate the majority finding new roles in the coming weeks. Those who do not receive a new position will be provided a severance package and comprehensive outplacement services."
The layoff affect about 15 percent of the downtown Detroit firm's staff.
Bedrock describes itself as "a full-service real estate firm specializing in acquiring, leasing, financing and managing commercial and residential space."
Since its founding in 2011, Bedrock and its affiliates have invested more than $3.5 billion in developing more than 100 properties in downtown Detroit and Cleveland. Bedrock’s real estate portfolio consists of more than 330 office and retail tenants in Detroit’s technology-centric downtown.
Metro Times notes that the firm has "received $618 million in tax incentives for four real estate projects, including the upcoming Hudson's site skyscraper."
