The market crunch has hit the Seattle real estate scene hard this week. First there was Redfin announcing it was laying off 20% of its employees earlier this week and today we get Zillow’s announcement that they’re cutting 40 jobs (roughly 25%). You can read about it on the Zillow blog.
Greg Swann says:
Bless you, James. David Gibbons emailed me with the news at noon, but I’ve been out of the office all day. Thanks for jumping on this.
More news at John Cook’s blog.
October 17, 2008 — 5:34 pm
James Hsu says:
good friend of mine was one of the ones that got let go today. Seattle’s getting it hard. I know of many Boeing employees who’ve been on strike are out looking for a job. Know of a few Wamu corporate folks who have already been let go and are looking for work, … redfin, zillow… My thoughts go out to everyone of those. Microsoft is in a pseudo hiring freeze … this will likely have some long term rippling effects on our local real estate market.
October 17, 2008 — 9:51 pm
Eric Blackwell says:
@James-Thanks for the heads up on this.
@DavidG- I know personally how tough this is. Despite my disagreements with Zillow’s business model, my thoughts and best wishes for you and especially for those who lost their livelihood. It is never easy.
October 18, 2008 — 4:21 am
Glenn says:
My hopes and prayers are with those individuals and their families fair well during their current situation.
October 20, 2008 — 4:13 pm
Mike Pannell ( Dallas Realtor) says:
I like Zillow, I hope everything turns out good.
December 16, 2008 — 4:04 pm