Nov 10 2022
Comment #10- Redfin, the Online Real Estate Broker, Lays Off 13% of Its Staff
As the housing market continues to decline, Redfin, an online home-flipping brokerage is cutting back on its staff. Alongside them are several other companies such as Zillow, Compas (a brokerage), and Opendoor (home buying platform).
Mr. Kelman, Redfin CEO, “A layoff is awful, but we can’t avoid it.” Redfin still plans on growing the business but it won’t be at the rate at which they were wanting.
I think that Redfin is doing the right thing. Unfortunatly they are hurting individuals lives but that is how business works. You can’t always support the volume of employees during a downturn of a company.
There are other businesses outside of the real estate industry who are seeing this trend as well with Meta, Twitter, Crypto companies, and more.
https://www.nytimes.com/2022/11/09/business/redfin-laysoffs-home-flipping-service.html
One response so far
You’ll make a good CEO some day, Jacob.
This story will be read by other companies as they make decisions about their own employees. And employees will read it and wonder when they will get the axe.