Orchard Layoffs
November 2023
Orchard announced a layoff affecting 0 employees in November 2023. The company operates in the Real Estate sector.
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Nov 2, 2023
About
Orchard, a real estate technology company, laid off a number of employees in a restructuring move announced in a LinkedIn post. The layoffs were attributed to significant headwinds in the housing market, including rising mortgage rates and worsening affordability for buyers, which necessitated measures to ensure the company's long-term focus on its mission. While the exact number of affected employees was not specified in the post, the company expressed regret over parting ways with colleagues and offered to circulate an opt-in list of those impacted for new job opportunities. The industry context points to challenges within the proptech and real estate services sector during a period of market adjustment.
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