Reno-based Clear Capital executed another round of layoffs today, with the real estate appraisal and technology firm blaming a challenging market. The layoffs involve 250 employees or about a quarter of the company’s staff. The restructuring will impact Clear Capital’s global workforce, including employees in Reno.
“We are seeing a seismic shift in the housing market, but more specifically in the appraisal and valuation industry,” said Clear Capital CEO Duane Andrews. “To ensure we have the right teams in place to execute our plans and take advantage of this shift, we are restructuring our organization to allow for greater agility today and in the future.”
For Clear Capital, the decision marks the second round of layoffs in just three months. Back in October, the Reno Gazette-Journal first reported that Clear Capital was laying off 27% of its global workforce due to a significant decline in its business. The layoffs impacted around 350 workers at the time, according to the company.