TAMPA — Online real estate giant Zillow will fire 17 employees in Tampa to end its Zillow offer program.
The layoffs will affect employees working in the company’s downtown office in Ashley Drive, according to a letter to the state and mayor of Tampa, Jane Castor. Layoffs will begin on January 3rd and will continue throughout the year.
This letter was sent to meet the requirements of the Federal Government Mandated Worker Coordination Retraining and Notice (WARN) Act.
The Seattle-based company announced earlier this month that it would stop buying and reselling homes. Rich Barton, co-founder and CEO of Zillow Group, said, “We decided that the unpredictability of home price forecasts was far beyond expectations, and as we continued to expand our Zillow offers, we were too profitable and balance sheet volatility. Will grow. “
However, removing the program is very costly. The company says it will dismiss about 25% of its employees at the end of the service. The Zillow website states that it has about 8,000 employees.
The company said in a letter that 11 managed workers would lose their jobs in Tampa, and 6 refurbishment range evaluators would also lose their jobs. He did not answer the question about how many employees would remain in Tampa.
Zillow reported in its income statement that it had revenues of $ 1.7 billion in the third quarter.
Zillow Dismissing Employees in Tampa | Business Observer
Source link Zillow Dismissing Employees in Tampa | Business Observer