Seattle-based real estate tech startup Flyhomes is laying off about 20% of its staff, a company spokesperson confirmed to the Business Journal on Wednesday.
As of January, Flyhomes had roughly 820 employees, but the company didn’t specify how many total employees were affected by the layoffs. The company raised a $150 million Series C round in June 2021, when co-founder and CEO Tushar Garg told the Business Journal Flyhomes had between 350 and 400 employees. In a LinkedIn post announcing the layoffs, the company cited rising interest rates and lower demand for housing as reasons for reducing staff.
