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covid-19 real estate

Redfin Lays Off 7% of Staff, Furloughs Many More

By
Wendy Pollack
· · Source: The Information

Tech-oriented real estate brokerage Redfin is reducing its staff by 41% through furloughs and layoffs, as the coronavirus pandemic crushes housing demand. While most of the cuts will be carried out as furloughs, some 7% of the staff will be laid off, according to an SEC filing. The company will incur a one-time charge of between $2.9 million and $3.3 million for severance-related costs. The...

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