Zillow has fired 300 employees from the workforce as it shifts its focus toward technology-related positions at the company, TechCrunch learned from the sources and confirmed with the company via email.
The Seattle-based online real estate marketplace notified its affected employees of the decision on Tuesday.
Shortly after receiving the call, the affected employees had to leave the company. The layoffs affected Zillow Offer consultants, PA sales, and back-end support personnel at Zillow Home Loans and Zillow Closing Services, as well as other teams.
“As part of our normal business operation, we continually assess and responsibly manage our resources as we create digital solutions to make it easier for people to get around. This week we made the difficult — but necessary — decision to eliminate a small number of roles and will shift those resources to the key growth areas around our super-housing app. “We continue to be hiring for key technology-related roles across the company,” a Zillow spokesperson said in a statement emailed to TechCrunch.
The company did not disclose the percentage of its workforce affected by the decision. However, in its most recent quarterly report filed with the US Securities and Exchange Commission in August, Zillow reported that it had 5,791 full-time employees in its workforce. Using that number, this layoff affected about 5% of employees.
In November of last year, Zillow announced it was laying off a quarter of its staff — about 2,000 people — due to the closing of a homebuying service that aims to provide sellers with instant home offers. The company at that time had 8,000 employees.
Zillow has become one of the latest technology companies to lay off employees during this economic downturn. Earlier this week, Unicorn Ciripal telehealth cut its workforce by 20% due to its continued push for efficiencies. Companies such as Netflix, Momentive Global, Spotify, and Tencent have also made similar decisions recently. Similarly, Indian start-ups including Byju’s and Ola have let hundreds of employees go amid declining funding and investments.