Sundae, a San Francisco-based real estate technology startup, laid off 15% of its workforce in mid-June 2022. While the exact number of affected employees wasn't disclosed, the company had approximately 180 employees as of July 2021, suggesting around 27 people were let go. The layoffs primarily impacted staff in the company's newest markets. CEO Josh Stech cited the need to ensure the company's long-term future, acknowledging "slower than expected growth" in late 2021. Despite recently expanding to 20 markets and having raised significant venture capital, the fast-growing proptech firm made this difficult decision to adjust its operations amid changing market conditions.
