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Vornado to Cut Staff, Salaries in Cost-Saving Measure

Move Has Benefit of Lowering Expenses by $35 Million Annually, New York City Office Landlord Says

Vornado Realty Trust owns its headquarters at 888 Seventh Ave. in New York City. (CoStar)
Vornado Realty Trust owns its headquarters at 888 Seventh Ave. in New York City. (CoStar)

Vornado Realty Trust, a prominent New York City office landlord, is looking to lay off 70 employees and reduce compensation as part of a plan to save $35 million in expenses annually.

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