SoftBank-backed brokerage Compass lays off 15% of staff - Business Insider

announced that it would halt any new purchases of homes.

The email noted that Compass has also reduced its Concierge program, which provided 0% interest loans to home sellers to make improvements to their home, by 80%, has paused corporate marketing, and has "halted non-essential project." Laid off employees were offered severance and were allowed to keep their corporate laptops. Reffkin noted that he hoped to rehire some of the laid-off employees when the economy improves.

"I don't have a crystal ball, but I believe that in 100 days the real estate market will bounce back and our customers, company and country will be climbing its way out of a recession," Reffkin wrote.

Wow

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