Redfin to cut 450 jobs after rental deal with Zillow
Seattle-based real estate tech company Redfin Corp. (Nasdaq: RDFN) is laying off about 450 employees from its rentals business.
The company disclosed the layoffs Tuesday in a Securities and Exchange Commission filing. The layoffs are tied to Redfin and Seattle-based competitor Zillow Group Inc.'s (Nasdaq: ZG) partnership on rental listings, which the companies announced Tuesday.
"The departing employees will be eligible for severance and continued health-insurance support," a Redfin spokesperson said in an emailed statement. "A layoff of this magnitude is painful, but this partnership is best for our customers and for Redfin overall."
The filing noted the layoffs would occur from now to July, and the company expects to incur charges of about $18 million to $21 million from the layoffs. Redfin had 4,693 layoffs at the end of 2023.
https://www.bizjournals.com/seattle/news/2025/02/12/redfin-zillow-layoffs-rentals-real-estate.html