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The Independent UK

National

Via AP news wire

Cooling housing market prompts layoffs at Redfin

Redfin Housing Market Seattle

Copyright 2020 The Associated Press. All rights reserved

Redfin, the Seattle-based real estate brokerage, says it will lay off 8% of its employees as the housing market cools off.

The Seattle Times reports CEO Glenn Kelman announced the layoffs Tuesday, telling employees, “With May demand 17% below expectations, we don’t have enough work for our agents and support staff, and fewer sales leaves us with less money for headquarters projects.”

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