Real EstateUS

Divvy Homes Layoffs

February 2023

Divvy Homes announced a layoff affecting 0 employees in February 2023. The company operates in the Real Estate sector.

People Affected

Announced Date

Feb 15, 2023

About

Divvy Homes, a San Francisco-based rent-to-own startup in the real estate technology industry, conducted another round of layoffs on February 15, 2023, affecting high-ranking employees such as the head of growth marketing, IT manager, and senior product manager. This follows a previous layoff in September 2022, where about 40 employees, or 12% of the workforce, were cut due to worsening economic conditions. The company, which had raised significant funding and was valued at $2 billion in 2021, cited ongoing macroeconomic challenges and the need to adjust headcount for the volatile environment. The layoffs reflect broader struggles in the startup sector amid a tightening market.