Zillow lays off 300 as stock continues downward

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Zillow lays off 300 as stock continues downward

Zillow lays off 300, pivots to "housing super app" As the housing market has slowed, firms across the real estate ecosystem have reduced staff in order to cut costs. Zillow is the latest firm to undergo a round of layoffs, eliminating roughly 300 positions on Tuesday, but the firm does not attribute the reduction to the cooling housing market. "As part of our normal business process, we continuously evaluate and responsibly manage our resources as we create digital solutions to make it easier for people to move. We’re still hiring in key technology-related roles across the company." During the second quarter of 2022, Zillow generated a modest net income of $8 million, while revenue for the quarter came in at $1 billion.

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