Real EstateUS

Cadre Layoffs

May 2020

Cadre announced a layoff affecting 28 employees (25% of its workforce) in May 2020. The company operates in the Real Estate sector.

People Affected

Percentage

25%

Announced Date

May 11, 2020

About

Cadre, an online marketplace for commercial real estate investments, laid off 28 employees last week, representing 25% of its workforce. The cuts affected all departments, including sales, product, engineering, people, and finance. This downsizing is a direct result of the sudden slowdown in the real estate market, which has impacted the company's revenue from transaction fees. To support those affected, Cadre is offering health insurance through the end of 2020 and extending the post-termination exercise period for vested stock options to two years.