That figure represents 13% of Redfin's workforce, the real estate data company said in an posted on its website. About 264 of the jobs being cut are at RedfinNow, the house-flipping arm of the company that launched five years ago. Redfin said it plans to spend the coming months dismantling RedfinNow, adding that homes purchased by the unit lost $18 million in value during the third quarter.
"Winding down RedfinNow is a strategic decision we made in order to focus our resources on our core businesses in the face of the rising cost of capital," Redfin said in a regulatory The job cuts this week come after Redfin laid off 470 employees in June, citing a slowdown in the housing market.The Seattle-based company is laying off employees as the U.S. housing market is cooling down from its white-hot activity earlier this year.
Too many second-career realtors flooding the job market?
Death of the housing sector
They will be flooded with white people that have been discriminated against.
Belgique Dernières Nouvelles, Belgique Actualités
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