real estate company Redfin laid off around 4% of its employees, affecting around 201 employees.
According to GeekWire, the layoff comes in response to the housing downturn, ongoing economic uncertainty, and to cut costs.
A company spokesperson told TechCrunch that the layoffs primarily impacted real estate support roles in the company.
- The laid off employees will receive 10 to 15 weeks of severance based on their tenure at the company and healthcare coverage for three months.
- In June and November last year, the Seattle-based company removed 17% and 13% of staff from the workforce.
- Redfin is also closing down its iBuying division called RedfinNow.
