Forecasting a massive hit from policies to stop the spread of coronavirus, New York real estate startup Compass has laid off 15% of employees by samsharf
Forecasting a massive hit from policies to stop the spread of coronavirus, New York real estate startup Compass has laid off 15% of its employees.CEO Robert Reffkin wrote Monday in an email to his staff.
“So we are joining thousands of other companies across the country in making the heartbreaking decision to let some members of our team go.” As the coronavirus pandemic has roiled stock markets and forced businesses around the United States to put operations on hold, companies . Economists, including those at real estate services firm CBRE, predict the unemployment rate will jump to 5%,—meaning 2 million people would lose jobs. Reffkin argued the rate could go as high at 10%.
The roughly 375 Compass cuts—which hit departments including marketing, finance and M&A—came just days after Reffkin penned an open letterto consider economic relief for real estate agents, whom he described as entrepreneurs whose businesses would be disproportionately hurt by social-distancing and shelter-in-place measures.
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