Decreased housing demand resulting from the COVID-19 crisis has caused Redfin to lay off 7% of its staff and furlough hundreds of agents.
This equates to 41% of their field agent workforce, with the majority being furloughed until the first of September. Additional slashes will be made to salaries at their Seattle based headquarters.
“The pandemic will end,” he wrote. “Redfin, and our whole-hearted but still imperfect efforts to care for our employees, will endure. To those who have been asked to leave Redfin today, thank you. I can’t imagine the grief we’ve caused you. I’m sorry we let you down. We’ll fight like wild animals to bring everyone on furlough back.”