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Zillow Cuts 500+ Amid Market Struggles | Real Estate News
Zillow just laid off over 500 employees—its second major round this year—citing a tough housing market and the need to streamline operations for future growth. CEO Jeremy Wacksman blamed bloated management layers slowing decisions, pledging faster execution and more room for innovation. The cuts come ahead of Q2 earnings, where Zillow posted $708M in revenue and $46M profit, driven by its fast-growing mortgage and rental segments. Affected staff may get accelerated equity vesting, though details remain unofficial. With the housing market still volatile, Zillow’s moves reflect broader industry…
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