Redfin Layoffs

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Redfin, the Seattle-based real estate brokerage, has laid off 82 employees this week, representing less than 2% of its workforce of approximately 4,700. The targeted cuts primarily affect the company's Concierge service, support staff, and sales managers, as Redfin continues to navigate a challenging housing market and shifts its business model. The company reported a net loss of nearly $28 million in the second quarter and is decentralizing its Concierge offering while transitioning more agents to a commission-based pay structure, reducing the need for managerial support. Some affected staff may be offered positions as agents.

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