HFF Inc., a commercial mortgage banker based in Pittsburgh, has reduced its workforce by approximately 12%, equating to 57 positions nationwide. Nearly all of HFF's 18 offices were affected by the reductions during the fourth quarter. Its employee count now stands at 433, including 163 producers. As of the third quarter of 2008, total employees came to 490, including 174 producers. "we are aggressively seeking ways to take advantage of opportunities as well as ensuring we are operating as efficiently as possible which includes tightly managing operating costs and eliminating positions in offices or in lines of business where the business no longer supports these positions," states John H. Pelusi Jr., HFF's chief executive.
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