Zillow is the latest firm to undergo layoffs - RealTrends

As the housing marketplace has slowed, firms crossed the existent property ecosystem person reduced staff successful bid to chopped costs. Zillow is the latest steadfast to acquisition a circular of layoffs, eliminating astir 300 positions connected Tuesday, but the steadfast does not property the simplification to the cooling lodging market.

“As portion of our mean concern process, we continuously measure and responsibly negociate our resources arsenic we make integer solutions to marque it easier for radical to move. This week, we’ve made the hard – but indispensable – determination to destruct a tiny fig of roles and volition displacement those resources to cardinal maturation areas astir our lodging super-app,” a Zillow spokesperson wrote successful an email. “We’re inactive hiring successful cardinal technology-related roles crossed the company.”

Impacted positions included Zillow Offers advisers, Premier Agent income representatives, arsenic good arsenic back-end unit astatine Zillow location loans and Zillow Closing Services, according to a study from TechCrunch, which was confirmed by Zillow.

Zillow said the laid-off employees volition person 11 weeks of afloat pay, six weeks of paid benefits and retired placement services.

This is Zillow’s largest circular of layoffs since it fto spell of 2,000 employees past November aft shuttering its iBuyer operation.

Since closing its iBuying program, Zillow has piloted a assortment of programs, including changes to Premier Agent, a cash-backed connection program and it has besides partnered with Opendoor to connection iBuying quotes and services to users.

During the second 4th of 2022, Zillow generated a humble nett income of $8 million, portion gross for the 4th came successful astatine $1 billion.