Modular home builder Veev cuts 30% of staff 8 months after raising $400 million - Silicon Valley Business Journal

Modular home building startup Veev Group Inc. is reportedly cutting 100 jobs — about 30% of its staff.

The move comes as the company is shifting its focus to making low-rise housing instead of high-rise developments, the San Mateo startup"This is a difficult decision taken by the company which was made after much deliberation with the utmost consideration for the company's employees," Veev said, according to CTech."This strategic decision will bring the company closer to achieving its business goals.

Reali blamed its clousure on"the challenging real estate and financial market conditions and unfavorable capital-raising environment." Veev plans to provide expanded severance to laid off workers and will help find them new jobs, it told CTech.We will unveil the rankings of our top corporate philanthropy companies for cash giving and honor our Community Impact Award Winners, while also hearing from corporate philanthropy leaders about what's top of mind for them.The Business Journal is looking for the most influential women in the Silicon Valley to honor in our prestigious special publication and event.

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