Pittsburgh real-estate company Barrington Real Estate announced on Monday that it will shutter its Pittsburgh office after one year.
The move comes just days after Barrington reported a net loss of $5.9 million for the fiscal year that ended in June.
The Pittsburgh-based real estate firm, which is the largest real-tor in the state, said it was able to trim its revenue from a net income of $6.4 million to a net revenue of $2.6 million.
The company said it has already laid off nearly 400 employees, and that the move will affect about 100 of them.
It also laid off one of its two full-time staff members in April.
Barrington said it will continue to provide services to local, regional and national clients, including commercial properties, and will focus on expanding its footprint in the greater Pittsburgh area.
Barrington will also focus on a strategic expansion of its real estate operations in Southwestern Pennsylvania, the company said in a statement.
The Pittsburgh-area real-tourism company has been on a hiring spree, hiring more than 10,000 employees in 2017.
The company recently announced a partnership with The Walt Disney Co. to launch an online app to provide a guide to the citys most popular attractions, including The Pirates of the Caribbean, Pirates of The Caribbean: On Stranger Tides and Pirates of Caribbean: At World’s End.