Real EstateUS

Compass Layoffs

March 2020

Compass announced a layoff affecting 375 employees (15% of its workforce) in March 2020. The company operates in the Real Estate sector.

People Affected

375

Percentage

15%

Announced Date

Mar 23, 2020

About

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.