The company is the latest to reduce its workforce amid a cooling real estate market.
Justin Sullivan/Getty Imageslistings in the U.S., is laying off an undisclosed number of employees due to a recent slump in the housing market.
In an email that was sent to the company's employees and shared with SFGATE, CEO David Doctorow said slowing sales volume in the real estate market has led the company to take the"difficult step" of reducing its workforce. "While we remain bullish on the long-term potential of what is a $200 billion addressable market, we must always take prudent steps to drive improved efficiency, including now," Doctorow said in the email.
Though a spokesperson for Realtor.com declined to share how many employees were let go, Doctorow's email indicated that the layoffs impacted both regular and contracted employees across most of the company's locations and functions. Laid-off employees are being offered a"generous severance," including a continuation of their health care benefits and comprehensive career counseling.
Realtor.com is headquartered in Santa Clara. About 200 of the company's approximately 2,500 employees live in the
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