Realtor.com has become the latest company to downsize, according to an email obtained by Inman from the company Wednesday night.
“On behalf of our leadership team, I wanted to let you know that today we have taken the difficult step of reducing our workforce,” CEO David Doctorow told employees in an email on Thursday. “While we are aware [of] some partners and competitors in our industry have made similar decisions in recent months, that does not make choosing this course any easier.”
“It comes only after much consideration and exploration of alternative scenarios for ensuring the company’s growth and longevity,” he added.
A Realtor.com spokesperson declined to share specifics of the layoffs, including how many employees and contractors were impacted and which departments were hit hardest. However, the company said they are offering “generous severances” that include COBRA healthcare coverage, career counseling and outplacement services.