In late March, Compass, a real estate brokerage firm, laid off 375 employees, which represents 15% of its workforce. The layoffs affected all departments and were a direct response to the COVID-19 pandemic, which caused a significant 60% drop in property showings as people stayed home. This move reflects broader challenges in the real estate industry, with other startups like Redfin and Blueground also implementing workforce reductions during the same period.

15%