Last week, the CEO of real estate company Redfin, Glenn Kelman, announced the company was laying off 8% of its employees in an email, saying that demand for the company’s realtor services had fallen 17% below expectations in May.
“We don’t have enough work for our agents and support staff, and fewer sales leaves us with less money for headquarters projects,” Kelman wrote in the email announcing the layoffs on June 14.
The layoffs at Redfin and another real estate company, Compass, on…
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