X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-Bill Cawley, president and CEO of Dallas-based Cawley-Wilcox Cos., confirms 25 of 100 jobs have been stripped from the overall operation. Wilcox Development Co. took the bulk of the hit, losing a mix of construction managers, support staff and junior associates assigned to brokerage.

“It was the hardest business day of my life,” Cawley tells GlobeSt.com of the action taken Wednesday. “It was a right-sizing for the economy more than anything else.” Still, it didn’t come without lots of decision wrestling, he says. The development group’s upper-level hierarchy is not changing, but the rapid-growth pace of 30% to 40% for the last decade is over.

In the past decade, the development company has been responsible for building more than three million sf of premier office product in Dallas-Fort Worth and the West Coast. Cawley-Wilcox will be doing less building, as is everyone. Cawley says he doesn’t expect that to change for a couple years. A one-time hoped-for rebound kept the job-cutting decision from occurring earlier in the downturn. The economic facts are such that the time had come to make the decision. “It was just a prudent business move,” he lamented.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.