McMakler

McMakler laid off 60 employees on 2023-11-21.

Berlin-based real estate startup McMakler has laid off 60 employees, representing about 8% of its workforce, as it faces what its CEO calls the worst property crisis in 50 years. This marks the third round of layoffs in less than a year for the company, following over 200 job cuts in 2022. The firm, founded in 2015, cites a severe downturn in the housing market, with rising interest rates and construction costs slashing demand and transactions. CEO Felix Jahn notes a 23-25% drop in homes sold via its platform in early 2023 and expects revenue to fall significantly this year, though he still aims for monthly profitability in the second half.

McMakler, a Berlin-based real estate platform and proptech startup, conducted another mass layoff in late October 2022, affecting over 100 employees. This follows a previous round of dismissals just a few months earlier in July. The company, which had nearly 1,000 employees, cited the turbulent economic environment and a rapidly changing real estate market—driven by rising interest rates and construction costs—as reasons for the restructuring. The layoffs impacted nearly all departments, except HR and Business Development, as McMakler aimed to position itself more robustly during a difficult market phase. This second round of cuts within months highlights ongoing instability in the proptech industry amid broader real estate sector challenges.

Berlin-based proptech startup McMakler, considered a future unicorn, laid off at least 90 to 120 employees in late July 2022, shortly after a large company-wide summer party. The layoffs, primarily affecting HR and finance roles, along with non-renewed contracts and reduced internships, impacted roughly 10-12% of its workforce of about 1,000. Company leadership internally cited the tense real estate market and broader economic changes as reasons, stating the need for early cost control despite being a growth company. The sudden move surprised employees, even amidst existing expectations for austerity measures.