Redfin Shuts Home-Flipping Business, Lays Off 13% of Staff in Slumping Housing Market

Real-estate company Redfin Corp.

laid off 13% of its staff on Wednesday and closedThe Seattle-based company, which operates a real-estate brokerage and home-listings website, said the decisions were made because it is predicting that the real-estate market is going to be smaller next year and its home-flipping business is losing money. It previously laid off 8% of its workforce in June of this year.

From ~$95 to $3 wow

Didn’t learn from Zillow smh

Hopefully the layoffs at Twitter, Meta, Redfin and elsewhere will convince Powell that his interest pressure is working to 'slow things down' and he won't do it any more.

Good. Bye.

Razans death in Gaza is an absolute tragedy.

There’s gonna be a lot of these stories come January

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Redfin to lay off 13% of staff, shutter home-flipping businessOnline real estate company Redfin announced that it's reducing its workforce again. This time, 862 employees will be laid off amid the uncertain economic environment. Good. These corps buying housing to turn into rentals is bad for the people. Laws should be passed to put an end to that So everyone waited till the day after the election to announce layoffs?
Source: FoxBusiness - 🏆 458. / 53 Read more »

'The housing market will get smaller in 2023': Redfin lays off 13% of staffReal-estate brokerage Redfin was laying off 13% of staff, CEO Glenn Kelman said. The headcount at the company has fallen by 27% since April, when 8% of staff were let go. Folks!, everything is just fine. The inflation…you know the thing, is gonna help us along the way. Don’t jump! Needed cool off
Source: MarketWatch - 🏆 3. / 97 Read more »