Apparently, no one noticed this piece of news… but we did. 

An inside source at Gafisa (NYSE: GFA) told newspaper Estadao (Dec 5th) that the Brazilian developer is laying off 10% of its workforce. The company does not confirm it but it doesn’t deny it.

Following a terrible year for its sector and, particularly, its stock (see chart below), Gafisa layed off 200 employees last week. Still according to the source, most of them worked at the low-income housing division (Tenda) and said that Gafisa is trying hard to show the market that it is restructuring the company to get back on track. 

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